Orasi scores some dough
Posted on May 12th, 2009 – 3:13 PMBy Thomas Lee
Orasi Medical said it raised $3.5 million from undisclosed investors.
The Edina-based company, a spin-off from the University of Minnesota, is developing software to help drug companies test compounds designed to treat neurological diseases like Alzheimer’s. Orasi says it’s talking to pharmaceutical manufacturers to design clinical drug trials that will use the software.
“In light of the difficult financial markets today we are very pleased with investor response to the Orasi offering,” CEO and co-founder Shawn Lyndon said in a statement.
“Pharmaceutical companies face a very difficult task in measuring the effect of neurological drugs,” he said. “The Orasi products provide a novel approach to measuring treatment effect earlier and more accurately than current practice. This round of capital allows the company the opportunity to substantially advance this technology.”
Newspaper Subscriptions
eEdition
RSS
Newsletters