Pittsburgh's Cellumen brings total 2009 fund-raise to $1.3 million

Pittsburgh’s Cellumen brings total 2009 fund-raise to $1.3 million

Drug analysis company Cellumen has raised about $700,000 this week, bringing their total 2009 fund-raising to $1.3 million.

By Chris Seper on October 12, 2009 2:55 pm

PITTSBURGH, Pennsylvania — Drug analysis company Cellumen has raised about $700,000, bringing their total 2009 fund-raising to $1.3 million, according to a filing last week with the Securities and Exchange Commission.

The company had hoped to raise $2.5 million, according to an SEC filing in March. Capital was raised this year through debt, a warrants and convertible debt.

Cellumen provides tests to determine at as early a stage as possible toxicity in drug treatments, tries to streamline the drug development process and find tools to help create patient-specific treatments. Earlier this year the company announced a project to help create Alzheimer’s disease treatments, and also enhanced CellCiphr, its early-stage drug screening tool.