INVESTORS POUR $14.5 MILLION INTO DRUG DEVELOPER CHELSEA THERAPEUTICS

Chelsea Therapeutics, which took on a new name and a new headquarters last July, has raised $14.5 million in a private placement. Chelsea was known as Aspen Therapeutics before it moved. The financing is the newest in a series of moves for the firm, which filled out its management team in September with a series of hires. Chelsea is developing drugs for treatments of arthritis, psoriasis and some cancers. It holds a patent on its lead candidate known as CH-1504.

Local Tech Wire (http://www.localtechwire.com/article.cfm?u=10372)