Tuesday, May 20, 2008

Pathfinder Therapeutics really doesn't want to leave Nashville

Pathfinder Therapeutics' CEO Paul MacDonald says the developing Vanderbilt spin-off company is deeply rooted in Nashville, with no plans to leave -- even to satisfy a would-be VC based elsewhere, as Veran Medical said it needed to do. Given its ties to Vanderbilt, Pathfinder seems likely to stick it out. But, MacDonald's polite report on how tough it has been raising money here echoes a familiar refrain. PTI needs about $2 million to traverse the next 18 months and probably a minimum of more than $4 million to become fully commercialized. Read the full story here.

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