News: Portfolio 2007

Logical Therapeutics Raises $30M Series B

By Jonathan Matsey

 

Logical Therapeutics Inc., a drug developer focusing on inflammatory diseases, said that it has raised $30 million in Series B financing.

 

June 14, 2007: New investor SV Life Sciences led the round, joined by new investors Burrill & Co., Novo A/S and Sigvion Capital, along with existing investor PA Early Stage Partners. Carolyn Green, chief operating officer for Logical Therapeutics, declined to provide the company's valuation.

 

Logical Therapeutics raised "just under $2 million" in July 2006 from PA Early Stage. At the time of that financing, VentureWire reported that the company would be looking to raise a $15 million Series A round. Green said that investors in the current round dubbed the seed round its Series A and were interested in providing double the funding Logical Therapeutics was originally seeking in this round.