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NEW DRUG TECHNOLOGY PAYS OFF
A Bothell company that uses specialized yeast strains to more quickly and cost-effectively develop protein-based drugs has landed $11.1 million in venture capital from Sevin Rosen Funds, Ventures West and WRF Capital. Alder Biopharmaceuticals Inc., founded by former executives of Celltech Group, a British company that shut its Bothell research center in January 2004, already has one Seattle-area biotechnology company testing the yeast-based manufacturing technology and another major pharmaceutical company is interested, Chief Executive Randall Schatzman said.
Seattle Post Intelligencer (http://seattlepi.nwsource.com/business/236391_alder13.html)
KEYWORDS FDAnews Drug Daily Bulletin
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