Ambrosia Biosciences closes $16 million Series A financing

Ambrosia Biosciences has announced the successful first closing of its Series A financing. The financing totaled $16 million, and was led by BVF Partners and Boulder Ventures.

Ambrosia says that the financing will be used to scale up its drug discovery programs and laboratory operations in Boulder, Colorado, USA

"Array BioPharma was among the best small molecule drug discovery teams on the planet," said Kyle Lefkoff, founding partner at Boulder Ventures and executive chairman of Ambrosia, noting that, "with the recent shut down of the Pfizer/Array R&D facility here in Boulder, we have re-assembled the Array medicinal chemistry team at Ambrosia to apply that same expertise to obesity."