Surface Logix raises $20M in second financing round

Boston, USA-based biophysical chemistry firm Surface Logix says it has completed the second tranche of a series D financing operation, earning $20.0 million. The first round, which closed in October 2005 (Marketletters passim), brought in proceeds of $32.0 million.

Company president Jim Mahoney said: "we are grateful for the strong support from our investors and, based on the significant progress we made over the last 18 months, we were able to raise twice the amount originally anticipated for this second tranche."

He added that that firm would use the proceeds to conduct a Phase IIa study of its developmental agent SLx-2101 in the treatment of Raynaud's syndrome and hypertension, as well as a Phase IIa trial of SLx-4090 in dyslipidemia.