FerroKin BioSciences, a San Francisco-based company seeking to treat iron overload, said today it has secured $12 million in venture financing. Existing investors Burrill & Co., Celgene, Clarus Ventures and MP Healthcare Venture Management, participated in the financing along with a new investor, Healthcap Ventures. The company says it has completed three clinical studies, in healthy volunteers and in patients with iron overload, to assess safety, absorption and metabolism of its oral pill, FBS0701. The company didn’t say in its statement what it plans to do with the money in further clinical development.
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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