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Solstice Receives Final Tranche in $18M Series A

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NEW YORK (GenomeWeb) – Solstice Biologics last week received the remaining $7.5 million that it had secured in a tranched $18 million Series A round early last year.

Established by the founders of Traversa Therapeutics, which declared bankruptcy in mid-2012 after it failed to secure needed funding, Solstice announced in January 2013 that it had received $10.5 million from venture capital firms VenBio and Aeris Capital, as well as the promise of $7.5 million more upon the achievement of certain scientific milestones.

According to an SEC filing last week, Solstice has received the second part of the Series A financing. However, specific details about the company's activities remain confidential, Solstice Executive Chairman Corey Goodman told Gene Silencing News in an email.

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