HemaQuest Pharmaceuticals closes $12M Series B financing

Apr 21 2010

HemaQuest Pharmaceuticals, a clinical stage biotechnology company developing compounds to treat sickle cell disease, beta thalassemia and EBV-related cancers, announced today the closing of a $12M Series B financing led by new investor, Aberdare Ventures. HemaQuest's investor syndicate includes Aberdare Ventures, De Novo Ventures, Forward Ventures and Lilly Ventures. The financing is intended to help advance HemaQuest's two lead products, HQK-1001 and HQK-1004, into pre-pivotal Phase 2 clinical trials. In conjunction with the financing, Naheed Misfeldt, Partner at Aberdare Ventures, has joined HemaQuest's Board of Directors. 

Ronald Berenson, MD, HemaQuest's President and CEO, said, "We are excited to have Aberdare Ventures join our investor syndicate. They bring a wealth of experience in the life sciences field and we look forward to working with them as we continue to develop our products to treat life-threatening hematologic disorders. In addition, we appreciate the continued strong support from our excellent group of existing investors."

Naheed Misfeldt stated, "HemaQuest Pharmaceuticals is working in areas of increasing interest to investors and the pharmaceutical industry; serious and life-threatening orphan diseases in which patients have few therapeutic options. They have made great progress with their first two drug candidates and we look forward to working closely with the Company as these agents progress through clinical trials. In addition, we are impressed with the management team, which has considerable expertise in drug development in hematology and oncology."