APT Pharmaceuticals Inc.
APT Pharmaceuticals, Inc. is a drug-development company focused on effective treatments for significant unmet medical needs. APT is looking to extend the reach of stalled specialty drugs, reviving and repurposing them for novel uses. The development of such drugs, often targeting critical diseases, addresses a huge pharmaceutical industry R&D gap.
APT's model allows the company to profitably pursue opportunities that appear too small for larger or less efficient organizations. Furthermore, APT has great flexibility in deal structure, making it an attractive partner. APT significantly improves its probability of success by working with well-characterized drugs that it has identified as promising candidates for further development.
APT received initial financing from Charter Life Sciences, Research Corporation Technologies and Vivo Ventures.
APT closed a $22 million Series A-2 round of financing in October 2007. New investors Versant Ventures and Great Point Partners joined existing firms Vivo Ventures and Charter Life Sciences in the round. APT, which has received a total of $30 million in funding to date, is using the new funding to advance its development pipeline, which includes Pulminiq, a Phase III drug for prevention of lung transplant rejection, a novel cardioprotectant and several other projects.
In September 2008, APT completed a $32.3 million Series B financing. The financing was led by Three Arch Partners and joined by additional new investors, InterWest Partners and Pinnacle Ventures. Proceeds from the financing will be used to complete APT's pivotal Phase III program evaluating the safety and efficacy of cyclosporine inhalation solution following lung transplantation. The series B financing will also fund further development of the company's pipeline programs in serious lung diseases.
Inventor/Founder
B. Lauren Charous, M.D., Allergy and Research Care Center at Milwaukee Medical Clinic
APT Contact
Stephen Dilly, M.B.B.S., Ph.D., CEO, Foster City, Calif., (650) 566-6457
RCT Contact
Shaun Kirkpatrick, President and CEO