NEW YORK, Sept. 6 – In silico drug discovery company Entelos of Menlo Park, Calif., said Thursday it had raised $25 million in a private placement.
Bear Stearns Health Innoventures led the series C round of financing, while Earlybird, Equity4life, and Compaq Computer also invested in the round. Previous investors, including Abingworth Ventures, Boulder Ventures, Brentwood Ventures, Charles River Ventures, and St. Paul Ventures, also reinvested in the company.
Entelos said it would use the proceeds from the financing to expand its business development efforts and to fund internal research and development programs.
Currently, Entelos has several partnerships with pharmaceutical companies to identify pathways, prioritize drug targets, and improve the drug development process.
The company has developed PhysioLab, a system designed to allow researchers to test experiments and hypotheses in silico, predicting the results through simulation. The system is available for asthma, obesity, diabetes, and adipocytes.