Alios BioPharma closes series A funding with $24 Million
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South San Francisco: Biotechnology company Alios BioPharma has rounded up commitments on $24 million in venture capital and plans to use the funds to start advancing its preclinical programs toward proof-of-concept. Novo Ventures and Novartis Ventures led the round--which will be delivered in tranches, starting with $8.4 million - with participation from the Roche Venture Fund. "We look forward to working closely with our new investors and members of the Board of Directors to build our company and successfully develop our pipeline," said Lawrence M. Blatt, Founder and Chief Executive Officer of Alios. "Several viral diseases remain difficult to be treated and represent areas of significant unmet medical need. We view the Alios product candidates as a complementary approach to existing antiviral therapies where the complexity of these diseases requires treatment with multiple agents with differing mechanisms of actions."

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