Business news in brief

0 Comments | Philadelphia Inquirer, The, February, 2007

IN THE REGION

Drug-design firm raises long-term operating capital

Locus Pharmaceuticals Inc., Blue Bell, said it had raised $30.2 million from investors. The computational drug-design and development company said Novartis Bioventures Ltd., Prism Venture Partners and HBM BioVentures (Cayman) Ltd. led the financing. Other participants included S.R. One Ltd., L Capital Partners SBIC LP and other existing company shareholders. Locus said the financing would fund operations for several years, during which time the company expects to have human clinical data for some treatments in cancer and inflammation. The company's lead cancer compound, LP-261, is in an early-stage Phase 1 patient trial. - Linda Loyd

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