News: Portfolio 2004

Gentara Gets $8M For Still-Open Series A, Sees $4M More

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"We really like the greater Philadelphia region, plus the state has provided a lot of support for biotech," said Gill. "Not incentives, but we get a lot of help in various ways."

 

PA Early Stage, on its part, has received tobacco settlement investment dollars to be invested in Pennsylvania life sciences companies; another local group, the city-funded partnership Innovation Philadelphia is providing Gentara with grant writing assistance, Gill said. He did not say if Innovation Philadelphia has plans to invest in the firm.

 

 

 

Over the next 18 months the company, which now boasts a staff of 10 employees, will look to employ a core scientific team of up to 15. This group will perform chemical synthesis and compound profiling in order, Gill said, "to get those drugs into animals for toxicology testing and into clinical trials as fast as we can."

 

As a result of the financing, Werner has taken a seat on the Gentara board, as has Paul J. Schmitt of PA Early Stage.

 

Gentara can be reached through an external press contact, Kori Beer of Wise Communications, at 610-216-0634

 

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