Predix Pharmaceuticals Represented by Mintz Levin in Series C Financing
1/28/2005
$43 Million in Private Equity Raised
Boston, MA - Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. today announced that it served as counsel to Predix Pharmaceuticals during its completed Series C round of private equity financing, which raised a total of $43 million.
Predix is a clinical stage drug development company that uses a proprietary discovery and lead optimization platform to focus on G-protein coupled receptor (GPCR) and ion channel drug targets. In 2004, Predix completed three Phase I trials with PRX-00023 for Depression and Anxiety, and initiated a Phase I trial with PRX-03140, a 5-HT4 agonist for Alzheimer's disease and other cognitive disorders. PRX-00023, a 5-HT1A agonist, is expected to enter Phase IIa clinical trials in early 2005 in patients with generalized anxiety disorder. A third clinical candidate, a novel 5-HT2B antagonist for pulmonary hypertension and other hypoxia-associated diseases, is expected to enter the clinic in the first half of 2005. Development will also continue on the company's robust pre-clinical pipeline.
Business and Finance member Christopher Denn and associates Joseph Vittiglio and Tania Rodrigues, who practice in Mintz Levin's Boston office, represented Predix Pharmaceuticals of Woburn, MA and Ramat Gan, Israel. Predix was incorporated in November 2000 in Israel and opened its U.S. operation in September 2002.
Mintz Levin's venture capital and private equity practice group represents numerous venture capital firms and other private equity investors as well as a large number of venture capital-backed businesses in a wide range of industries, such as biotechnology, high technology, the Internet and nanotechnology.
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, PC is a multidisciplinary law firm with over 450 attorneys and senior professionals in Boston, Washington D.C., Reston, VA, New York, Stamford, CT, Los Angeles and London.
Mintz Levin is distinguished by its reputation for responsive client service and expertise in the areas of bankruptcy; business and finance; communications; employment; environmental; federal; health care; immigration; intellectual property; litigation; public finance; real estate; tax; and trust and estates. Mintz Levin's international clientele range from privately held start-ups to Fortune 100 companies in a wide array of industries including biotechnology, venture capital, telecommunications, health care and high technology.
Mintz Levin was one of the first law firms to develop complementary consulting capabilities to provide complete solutions to clients' problems, including investment/wealth management, and government and public affairs.
