Pharmacopeia Inc., a company focusing on the discovery of bioactivemolecules, announced Friday the completion of a $10.3 million secondround of venture capital financing.The Princeton, N.J., company raised $4.25 million in its first financinground, which closed in July 1993 and was announced in November.The latest financing is expected to last Pharmacopeia 12 to 18 months,Robert Curtis, the company's vice president of corporate development,told BioWorld."We've been able to generate libraries of small molecules that areheterocyclic in structure," Curtis said. "We've been able to run themthrough a standard assay format. We've also run a couple of theselibraries through our new, novel assay technology, which allows for athroughput of a million compounds a month, and we expect to be ableto improve on that."Curtis said the company, founded in 1993, has no intention ofbecoming fully integrated. The plan, he said, is to collaborate or licenseout new drug leads. Pharmacopeia has no agreements yet, but isnegotiating with a number of companies, Curtis said.The lead investor in the financing was Oak Investment Partners. Otherswere Kleiner Perkins Caufield & Byers, Institutional Venture Partners,Greylock, Vector Later-Stage Equity Fund, and AbingworthManagement Ltd. Ginger More, a general partner at Oak Investment,was appointed to Pharmacopeia's board of directors._ Jim Shrine
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