Cambridge startup Arteaus has $18M to develop migraine drug

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Cambridge startup Arteaus has $18M to develop migraine drug

Post by Tee on Sun Oct 23, 2011 7:37 am

Boston Business Journal by Michelle Lang, Masshightech.com
Date: Wednesday, October 19, 2011, 11:58am EDT

Cambridge startup Arteaus has $18 million in venture capital financing to develop a drug for migraines, starting with technology licensed from Eli Lilly and Co. (NYSE: LLY)

Aiming to prevent migraines, Cambridge biotech Arteaus Therapeutics LLC has attracted $18 million in funding from Atlas Venture and OrbiMed Advisors. As part of the financing, OrbiMed entrepreneur-in-residence Thomas Schuetz will join Atlas Venture partner Jean-Francois Formela on the board of directors.

The previously stealthy company, which does not yet have a website, announced its funding today in a news release in which it shed light on its antibody-based technology. Arteaus has licensed worldwide development rights from Eli Lilly and Co. (NYSE: LLY) to an antibody to calcitonin gene-related peptide.

Arteaus has already begun conducting a Phase 1 study, in which safety, pharmacokinetics and pharmacodynamics of the antibody will be evaluated. The company said it should have results from the trial ready for presentation next year, with a multi-dose part of the study coming later in 2011 and a Phase 2 trial in the second half of 2012.

http://www.bizjournals.com/boston/news/2011/10/19/arteaus-aims-for-migraine-treatment.html

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