The Locust Walk Partners team is proud to share with you today’s news that our client, Armetheon, Inc., completed its Series A financing, raising an over-subscribed Series A round of $7M. The round was co-led by AshHill Biomedical Investments and Hercules Bioventures and included participation from Atheneos Capital and pharmaceutical executive Dr. Larry Hsu, the founder of Impax Laboratories (NASDAQ: IPXL). Armetheon is a biopharmaceutical company which is developing a late-stage portfolio of cardiovascular drugs. The financing will enhance Armetheon’s efforts to advance their latest-stage program, Tecarfarin, into a final pivotal trial.
This is the third completed transaction for 2014 for Locust Walk Partners and is Locust Walk’s second completed financing. Having now completed 12 transactions over the past 4 years for large and small companies.