Genta Inc. said Monday that it has raised $8.4 million inventure capital to fund the continued development of itsantisense oligonucleotide technology. The San Diego-basedcompany had originally hoped to raise $6 million.
Investors in this round included Genta's previous investors:Asset Management Associates; Biotechnology Investments Ltd.;Brentwood Associates; Domain Associates; InstitutionalVenture Partners; Kleiner, Perkins, Caufield & Byers; and U.S.Venture Partners. Hook Partners came in as a new investor.Stanford University, which invested in the first round, onlydoes initial rounds, said William Bliss, Genta's president.
Genta hopes to become a major manufacturer of antisenseproducts and a niche marketer, said Bliss. The company willmarket its own products in the dermatology area and developcorporate partnerships for cancer, cardiovascular andinflammation products.
Including this round of funding, Genta has raised $17 millionsince it was founded in 1989.
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