With an extra $25M in hand, Dauntless maps the next stage of growth for the pipeline
Two years ago, San Diego-based Cebix closed up shop after CEO Joel Martin and his crew took a thorough look at the data from a Phase IIb diabetes drug study and concluded it was a bust. They swiftly wrapped up the company, but they never burned their bridges with a key backer.
Mike Powell and the partners at Sofinnova Ventures were left deeply impressed with Martin and his team and the way they carried out the study, which “we really crushed,” Martin tells me. It was the kind of precision, he says, that outdid anything they had seen before.
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