Privately held Khepri Pharmaceuticals Inc. today announcedthe completion of a $6.8 million venture financing, bringing thetotal amount raised by the company since its inception inSeptember 1992 to $10.8 million.

Khepri of Alameda, Calif., said it will use the proceeds tobroaden its discovery research and to fund additional processdevelopment work for its novel protease-based therapeutics.

New investor Sequoia Capital joined the company's originalinvestor group, which included Brentwood Associates, KleinerPerkins Caufield & Byers, Mayfield Fund and Sierra Ventures.

"These new financial resources will be used to supportdiscovery research and to move our lead compound,recombinant neutral endopeptidase (rNEP), into the clinic byearly 1995," said Ronald Henriksen, Khepri's president andchief executive officer. The company licensed NEP from itscorporate partner, Genentech Inc.

Khepri's goal is to become a worldwide leader in the creationand control of novel proteases, engineered proteases andprotease inhibitors for unmet medical needs. The company'sproduct development is based on a broad understanding ofproteases and their role in controlling key biological processes.

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