Biotech, VC, deals

MediQuest Grabs $2.3M

Eric Hal Schwartz 5/29/09

Mediquest Therapeutics, a Bothell, WA-based developer of topical treatments for inflammatory diseases, has sold $2.3 million of a $15 million equity offering according to a filing made today with the U.S. Securities and Exchange Commission.  Founded in 1994, the company is developing a treatment for Raynaud’s disease, a condition that causes numbness in the fingers and toes when exposed to cold temperatures. The company’s application for FDA approval was turned down last fall, and it is trying again.

Eric Hal Schwartz is an intern in Xconomy's Seattle office. He can be reached at eschwartz@xconomy.com.