July 8, 2014, Seattle – Faraday Pharmaceuticals today announced it has been funded by a Series A purchase of preferred shares. The funding round was led by ARCH Venture Partners and Polaris Partners with contributing investment from Osage University Partners, The Washington Research Foundation and Alexandria Equities.
The financing is designed to provide capital support to advance one of the company’s elemental reducing agents through proof-of-concept clinical studies in man as well as help advance a second program toward an Investigational New Drug (IND) application.
Faraday Pharmaceuticals is a biopharmaceutical company focused on the research and development of elemental reducing agents. These therapeutic agents have potential applications for treatment of critical care illnesses. The company is headquartered in Seattle.