Privately held biotech startup Receptos Inc. said Nov. 23 it has closed a $25 million Series A financing round it will use to advance its lead drug candidate into human trials.
The company, led by biotech veteran William Rastetter, is working on imaging techniques that aid researchers in their drug discovery efforts. Its technology, which captures images of the G-protein coupled receptor, gives researchers a more precise target for their drugs. Scientists with The Scripps Research Institute originally developed the imaging technique, which was named among the top 10 scientific breakthroughs of the year by Science Magazine in 2007.
Investors in the company include ARCH Venture Partners, Flagship Ventures, Lilly Ventures and Venrock.
—Heather Chambers