Diatech Inc. announced Friday that it has raised $11.5 millionin a private financing.
The investors in this latest round of financing for privatelyheld Diatech of Londonderry, N.H., included Chemicals andMaterials Enterprise Associates; New Enterprise Associates;Chemical Venture Partners (an affiliate of Chemical BankingCorp.); Benefit Capital (Union Carbide's pension fund); AtlasVenture; Burr, Egan, Deleage; the Sprout Group; Medical SciencePartners L.P.; and several other investors who had participatedin the previous rounds of financing.
Diatech, which was founded in 1990, is developing syntheticpeptides linked to the radioactive isotope technetium-99m astools for detecting disease and possibly as vehicles for targetingdrugs directly to affected tissues.
Diatech is currently in clinical trials with Tc-99m-labeledpeptide imaging agents for deep-vein thrombus, atheroscleroticplaque, sites of infection and tumors. It intends to use the$11.5 million to support those ongoing trials.
-- Jennifer Van Brunt Senior Editor
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