Arrow Therapeutics Ltd. 's £21 million ($35 million) funding round announced on October 1, 2003 is already the UK's biggest biotech private financing this year; its second stage is expected to bring that total to £25 million by year-end [See Deal]. Four new investors, led by Atlas Ventures, have provided enough money to take Arrow's lead program, a pre-clinical compound to treat respiratory synctitial virus (RSV), to Phase III and potentially see the company go public in or around 2005.
At first glance, it's unclear what attracted the VCs to Arrow: it has no compound in the clinic, a popular...
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