Sequel Raises $1.4M

9/9/10

San Diego’s Sequel Pharmaceuticals has raised almost $1.4 million in a combination of debt, rights, and securities in a round intended to raise more than $1.9 million for the three-year-old specialized drug developer, according to a recent regulatory filing. Sequel is focused on developing a drug candidate for treating an abnormal heart rhythm known as atrial fibrillation. As Luke reported last October, founding CEO Randall Woods started Sequel within 24 hours after selling his previous biotech, NovaCardia, to Merck for $350 million. Sequel’s financing was reported by VentureWire, which noted the startup previously raised $3 million just over a year ago, and raised $20 million when it was founded in 2007 from investors that include Domain Associates, Forward Ventures, InterWest Partners, Montreux Equity Partners and Skyline Ventures.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788 Follow @

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