WaveRx Shuts Down: VentureWire
WaveRx, a Waltham, MA-based developer of treatments for dermatological disorders, has shut its doors, according to a report in Dow Jones VentureWire today. The firm raised $502,512 las year, and raised about $6.8 million of an $11.6 million equity financing in 2009, according to an SEC document. Its investors, 5Am Ventures, Three Arch Partners, and Polaris Venture Partners, decided to close the company last year as it waited to hear back from the FDA on a clinical trial WaveRx had updated and shifted, following a number of delays, VentureWire reported. Today a call to the company was met with an automated message stating the number is out of service.