ARCA Discovery Hauls In $18M Series B Round

Denver, Colorado-based ARCA Discovery Inc., a privately held biopharmaceutical company, reported Monday that it has completed a Series B preferred stock financing round worth $18 million. ARCA said first-time investors Skyline Ventures and InterWest Partners headed the effort along with first-round contributors Atlas Ventures, Boulder Ventures and the Peierls Foundation. ARCA raised a Serie A in February of 2006 worth $15 million. ARCA said the financing will be used to file for U.S. Food & Drug Administration approval for its proprietary cardiovascular drug, bucindolol. The Denver-based firm explained that bucindolol is a beta-blocking vasodilator intended to treat heart failure and other diseases. More information »