Allon Therapeutics, the Vancouver, BC-based developer of drugs for neurological disorders, said today it has raised $10 million from a limited partnership of the Nordic Biotech Venture Fund. The cash will be used to further develop davunetide, which is being prepared for a pivotal clinical trial in patients with progressive supranuclear palsy (PSP). CEO Gordon McCauley talked about this rare disease, and his strategy to develop drugs against far more common diseases like Alzheimer’s and schizophrenia, in an Xconomy profile back in April.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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