Thursday, December 18, 2008

Entra Pharmaceuticals gathers first round funds

By Mass High Tech staff

Waltham-based drug delivery startup Entra Pharmaceuticals Inc. has raised $4.23 million in a first tranche of a Series A round, which could be expanded to $12.5 million by November 30, 2009, according to PE Hub, which cited regulatory filings. Backers reportedly include Flybridge Capital Partners and North Bridge Venture Partners.

The low-profile company is housed at North Bridge’s offices in Waltham. For an event at the Deshpande Center earlier this year, North Bridge background materials listed Entra as one of the MIT spinouts that it has funded. Other reports have listed Rick Gyory, formerly of Transform Pharmaceuticals, as president and as vice president for product design and development.