Durham biotech Viamet raises $4 million
Published: Thu, Jun. 07, 2007 10:01AM
Modified Thu, Jun. 07, 2007 10:04AM
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closeViamet Pharmaceuticals, an early-stage biotechnology company, has raised $4 million in venture capital financing.
The Durham company was founded in 2005 and is run by CEO Robert Schotzinger.
Viamet is developing treatments for cancer and other diseases with compounds designed to help the body more effectively use metal ions such as zinc and iron.
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The venture funding announced this morning was provided by Intersouth Partners of Durham and Hatteras Venture Partners of Research Triangle Park. Venture capital firms typically invest in young companies they believe have fast growth potential, and then cash in if the company succeeds.
Viamet is housed at Intersouth’s offices but is looking for its own space.
Staff writer Alan M. Wolf can be reached at (919) 829-4572 or alan.wolf@newsobserver.com.
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