JANUARY 21, 2013
A licensing deal between two California pharmaceutical companies has resulted in the formation a new San Francisco startup developing an unspecified peptide drug candidate.
With the creation of the virtual company Spitfire Pharma Inc., Velocity Pharmaceutical Development LLC said it’s pursuing a drug development program that uses EuMederis Pharmaceuticals’ EuPort technology to improve the design, synthesis and delivery of peptide drugs. According to a recent SEC filing, it looks like the company is getting off the ground by opening a $9.5 million round of financing, at least half a million of which has already been secured.
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