Numerate closes $5.5 Million in series B financing
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San Bruno: Numerate, a biotechnology company leveraging a novel drug engineering process to design lead-stage drug compounds, has completed a $5.5 million series B financing. Foundation Capital led the round which was also joined by Lanza techVentures, both existing investors. "This increased investment demonstrates our confidence in the ability of Numerate's computationally-based drug design process to deliver high-potential clinical candidates at a fraction of the cost and time required by traditional processes," stated Adam Grosser, a general partner with Foundation Capital. "We believe there is a large opportunity for this innovative technology to address industry-wide needs for greater efficiency and less risk in drug discovery," he added. According to Guido Lanza, Numerate's president and chief executive officer, "This investment will help support our business model of partnering with biotechnology and pharmaceutical companies while building on our drug design platform that provides compounds with the best chance of succeeding in the lab, clinic and marketplace."

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