Atlas tests single-asset VC model with $18M in Arteaus to develop Lilly migraine molecule

24 Oct 2011

• By Nancy Faigen

The first funded example of Atlas Venture Development Corp's strategy of setting up virtual companies to develop single drug asset is Arteaus Therapeutics. The Cambridge, Massachusetts start-up, founded in June 2011, has attracted $18 million in financing from Atlas Venture and from OrbiMed Advisors to develop a Phase I antibody licensed from Eli Lilly to prevent migraines. The antibody product targets the calcitonin gene-related peptide (CGRP) receptor.

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