Tuesday, October 28, 2008

N30 Pharma Gets Funding

N30 Pharma announced Tuesday that it has completed a second round of venture financing and added two directors to its board. The Boulder, Colo.-based biopharmaceutical firm declined to divulge the source or amount of its recent funding. N30 did, however, comment that it will use the money to finance its clinical cystic fibrosis program and to expand its discovery and preclinical research into small-molecule drugs that modulate nitric oxide bioavailability in cardiopulmonary diseases. N30 noted that one of its new directors, Arnold Snider, previously founded Deerfield Management, a New York-based, multi-billion dollar hedge fund focused on health care and life sciences companies. N30 added that the other director, Marc Elia, co-founded N30 while at Tiger Management, a New York hedge fund, and has held previous roles in life sciences corporate strategy at Chiron Corp. and L.E.K. Consulting. More information »