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Allena Pharmaceuticals secures $15 million in Series A financing

Wednesday, November 16, 2011 03:03 PM

Allena Pharmaceuticals, a company developing and commercializing innovative non-systemic oral protein therapeutics, has secured $15 million in Series A venture capital financing. Bessemer Venture Partners, Frazier Healthcare and Third Rock Ventures led the round. Proceeds from the financing will be used to accelerate the development of Allena's non-systemic protein therapeutics to treat metabolic and orphan diseases, with a particular focus on nephrologic and urologic conditions.

"We see Allena as an opportunity to create a world-class pharmaceutical company driven by a proven technical approach and strengthened by innovative research and science," said Robert Tepper, M.D., partner, Third Rock Ventures. "Our experience working with this team in the past has yielded tangible success, including the acquisition of Alnara by Eli Lilly & Co. in 2010, and we look forward to working with Allena to create value and positively impact the lives of patients."

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