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Cambridge, Mass., Biotech Drug Firm Lands $50 Million in Venture Funding.
Knight Ridder/Tribune Business News, April, 2004
By Beth Healy, The Boston Globe Knight Ridder/Tribune Business News
Apr. 6--Archemix Corp., a private drug-development start-up in Cambridge, has landed $50 million in venture capital, providing fresh evidence that investors and venture firms are eager to fund hot biotech companies.
With its second round of funding in hand, Archemix has raised more than $100 million since its founding in 2001. It's a lavish sum and a harbinger of the success Highland Capital Partners and several other venture capitalists are betting that promising therapies will bring. The deal is expected to be announced today.
"These guys are good drug hunters, with a good record of identifying candidates," said Corey Mulloy, principal at Highland Capital in...
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