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Recent Financings of Private Companies (12/2006)

Each month, Start-Up presents a comprehensive review of young, private life science companies that have recieved venture funding during the month, including companies in the pharmaceutical, medical device, diagnostic and research instrumentation & reagent sectors.

Oct.—After deciding that the treatment of substance abuse was not a major part of its business strategy, Acadia (drug discovery in neurological diseases) said it will provide seed funding to form Abbey Pharmaceuticals to focus on this therapeutic area.

When Abbey secures outside equity financing, Acadia will invest up to $1mm by buying convertible promissory notes and possibly equity...

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