Samumed, a San Diego, CA-based small-molecule drug platform, has secured $438m in funding.
The investors were not disclosed.
THE PRESS RELEASE
Samumed Closes on $438 Million in Equity Financing
SAN DIEGO, Aug. 06, 2018 (GLOBE NEWSWIRE) — Samumed, LLC, announced today that it has closed its A-6 Round of equity issuance with $438 million, bringing its total equity raised to date to more than $650 million. The pre-money valuation for the round was $12 billion.
“We appreciate the strong support from our investors,” said Osman Kibar, Ph.D., Chief Executive Officer of Samumed, “We are now in a fortunate position to both move our later stage programs to commercialization, as well as expand on our earlier stage science and clinical portfolio.”
Samumed, a small-molecule drug platform harnessing the innate restorative power of the Wnt pathway to reverse the course of severe and prevalent diseases. Learn more about Samumed’s potential regenerative drug candidates and broad clinical pipeline at https://www.samumed.com/pipeline/default.aspx