CALIFORNIA: Alvine Pharmaceuticals Inc., closed a $21 million Series A financing. The Palo Alto-based biopharmaceutical company is focusing on developing treatment for the Celiac disease and had Sofinnova Ventures leading the investment round. Prospect Venture Partners accompanied them with InterWest Partners while Cargill Ventures and Flagship Ventures also participated in the financing. Terming this financing merger as a platform for the unison of premier investor groups, Chaitan Khosla, Ph.D, Stanford Professor and co-founder of the company, said that Alvine was committed to advancing the company's lead product candidate ALV001 into human clinical and safety trials while providing innovative drug therapies for this disease. Celiac disease is a digestive disease that damages the small intestine and interferes with absorption of nutrients from food. Triggered by gluten, a component of cereal grains found in most foods sold in the U.S., Celiac sprue is a serious yet common immune disease said to affect as many as two million people in the United States alone, which has no drug therapy yet. Expressing his thrill on working together again, Sofinnova Ventures?s General Partner Nicola Campbell, Ph.D said, "ALV001 has proven to be uniquely safe for patients with celiac sprue, an actuality that the management team and investors alike are proud of." Based on over six years of research, Alvine co-founders Blair Stewart, President and Kevin Kaster, Vice President of Corporate will be joining Khosla in this venture.