Limerick BioPharma raises $15.2M for drug bioavailability
A stealthy life sciences startup called Limerick BioPharma has raised $11 million in venture funding and $4.2 million in debt, according to VentureWire. The participants in the round are not clear, but Arch Venture Partners, Sevin Rosen Funds and Altitude Funds are all listed as investors.
Limerick says on its website that it’s working on improving existing therapies through modulating bioavailability — keeping potentially harmful substances out of tissues while maintaining their effectiveness. The technology could allow opioids to work without impairing function. However, the specific drugs the company is working with have not been disclosed.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.