Azelon Pharmaceuticals, previously backed by UK-based healthcare company GlaxoSmithKline’s corporate venturing unit when it was ParaTech, has reportedly raised a $5.2m round.
The company upgraded its $4.5m series A round revealed last year, according to Tech Finance Canada. The company’s Securities and Exchange Commission filings show the company raised $5.2m in a March 2012 filing and a separate August 2011 filing.
The series A was backed by venture firm Prospect Venture Partners, which led the round, as well as venture firms Lighthouse Capital Partners and Covington Venture Fund, according to the company’s original $4.5m statement in October last year, which said the round followed a company restructuring.
At the time of the October announcement Joan Lau was appointed chief executive and Don Hayden was appointed executive chairman. Azelon was previously Zelos Therapeutics, and before that Paratech Therapeutics,according to Tech Finance Canada. GlaxoSmithKline’s SR One lists Zelos as one of its investments on its website.
Azelon was founded in 2000 and has raised more than $75m with other investors including Canada based pension fund Ontario Teacher’s Pension Plan, as well as venture firms VenGrowth, Advanced Life Sciences Fund/Covington Venture Fund, Seaflower Ventures, Alta Partners, Frazier Healthcare Ventures, and BDC Venture Capital, according to Tech Finance Canada.