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Scynexis raises $29M

BT Catalyst, July-August, 2002

Scynexis Inc. of Research Triangle Park has raised $29 million in a Series C financing from a syndicate of U.S. and European venture funds led by Alta Partners of San Francisco.

"This new round of investment provides strong confirmation of our business and our strategic approach to the marketplace," said Yves Ribeill, the company's president and CEO.

The latest round of investment, which was oversubscribed, included new investors such as Burrill & Co. of San Francisco, SR One of Philadelphia, CDC Innovation Partners of Paris and KBL Healthcare Ventures of New York.

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Along with the financing, the company announced the appointment of Edward Penhoet, Ph.D., and Dr. John Kim to the board of directors. Penhoet is the former CEO of Chiron Corp. of Emeryville, Calif., and Kim is a managing director at Burrill & Co.

"We're extremely gratified to have someone of Ed's reputation and stature join our board and have his experience complemented by John's," said Ribeill. "We look forward to their valuable input."

For more information visit the company's Web site at www.scynexis.com.

COPYRIGHT 2002 North Carolina Biotechnology Center
COPYRIGHT 2008 Gale, Cengage Learning

 

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