Tuesday, January 6, 2009

Qwell Pharmaceuticals Gets $7M

Stealth drug development firm Qwell Pharmaceuticals has scored $7M in a Series A funding, according to reports, from venture firms Arch Venture Partners and the Wellcome Trust. Online news site Xconomy first reported the deal, citing Arch Venture Partners Managing Director and Qwell Chairman Steve Gillis. In an interview with Xconomy, Gillis said the funding is part of a $35M funding tranche. Northwest Innovation has not yet confirmed the funding with Qwell. More information »