New Haven Pharmaceuticals, a US-based drugs start-up backed by local Yale University, has extended its series A round by $1.5m with the addition of Connecticut Innovations (CI), the state’s quasi-public authority, to its investor consortium.
CI’s investment was part of a $6.6m series A round also involving venture capital firms EJ Funds (affiliated with EJ Financial Enterprises), Kuzari Group and Advantage Capital Partners, Yale University, and angel investors.
New Haven’s products employ proprietary, oral, controlled-release technologies to treat strokes, as well as intellectual property licensed from Yale University to lower stomach acid.
William Sessa, professor of pharmacology at Yale University, is on New Haven’s board.