Sequel Raises $1.4M

San Diego’s Sequel Pharmaceuticals has raised almost $1.4 million in a combination of debt, rights, and securities in a round intended to raise more than $1.9 million for the three-year-old specialized drug developer, according to a recent regulatory filing. Sequel is focused on developing a drug candidate for treating an abnormal heart rhythm known as atrial fibrillation. As Luke reported last October, founding CEO Randall Woods started Sequel within 24 hours after selling his previous biotech, NovaCardia, to Merck for $350 million. Sequel’s financing was reported by VentureWire, which noted the startup previously raised $3 million just over a year ago, and raised $20 million when it was founded in 2007 from investors that include Domain Associates, Forward Ventures, InterWest Partners, Montreux Equity Partners and Skyline Ventures.

Author: Bruce V. Bigelow

In Memoriam: Our dear friend Bruce V. Bigelow passed away on June 29, 2018. He was the editor of Xconomy San Diego from 2008 to 2018. Read more about his life and work here. Bruce Bigelow joined Xconomy from the business desk of the San Diego Union-Tribune. He was a member of the team of reporters who were awarded the 2006 Pulitzer Prize in National Reporting for uncovering bribes paid to San Diego Republican Rep. Randy “Duke” Cunningham in exchange for special legislation earmarks. He also shared a 2006 award for enterprise reporting from the Society of Business Editors and Writers for “In Harm’s Way,” an article about the extraordinary casualty rate among employees working in Iraq for San Diego’s Titan Corp. He has written extensively about the 2002 corporate accounting scandal at software goliath Peregrine Systems. He also was a Gerald Loeb Award finalist and National Headline Award winner for “The Toymaker,” a 14-part chronicle of a San Diego start-up company. He takes special satisfaction, though, that the series was included in the library for nonfiction narrative journalism at the Nieman Foundation for Journalism at Harvard University. Bigelow graduated from U.C. Berkeley in 1977 with a degree in English Literature and from the Columbia University Graduate School of Journalism in 1979. Before joining the Union-Tribune in 1990, he worked for the Associated Press in Los Angeles and The Kansas City Times.