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Aragon Pharma Raises $8M

San Diego-based Aragon Pharmaceuticals says it has raised $8 million in a Series A financing led by The Column Group, a San Francisco, CA, biotech venture capital firm and OrbiMed Advisors, a $5 billion healthcare investment firm based in New York. The company said the funding will be used to develop new small molecule drugs for the treatment of hormone-resistant cancers, with an initial focus on prostate and breast cancer. Aragon was founded by Charles Sawyers, a researcher at Memorial Sloan Kettering Cancer Center and the Howard Hughes Medical Institute, and Michael Jung, a UCLA professor of chemistr and biochemistry.