Trevena, Inc., a drug discovery company announced the closing of a $24 million Series A financing

What Company Is Offering:
Trevena, Inc., a drug discovery company focused on developing pharmaceutical products targeting G-protein coupled receptors (GPCRs).

How Much They Got From VCs:

They announced the closing of a $24 million Series A financing. Alta Partners and Healthcare Ventures led the round as part of an investor syndicate that included New Enterprise Associates and Polaris Venture Partners. The company will use the funds to progress its drug discovery portfolio.

"We are very pleased to have attracted an outstanding group of investors, who share our vision and strategy on building a premier drug discovery organization," said Maxine Gowen, Ph.D., President and Chief Executive Officer. "Pharmaceutical products that target GPCRs represent over 40% of marketed drugs today and these targets provide an attractive starting point for new pharmaceutical agents. Trevena's mission will be to utilize a state of the art approach to discover and develop novel GPCR-targeted medicines for patients."

About VCs:
Alta Partners is a San Francisco-based venture capital firm focused on life sciences investing. Founded in 1996, the firm currently manages $2 billion in committed capital through seven venture fund programs. Alta invests in life sciences companies across the development continuum, from company formation to later-stage opportunities, and has funded more than 120 companies in the sector to date. http://www.altapartners.com

About Healthcare Ventures

For information on Healthcare Ventures, visit http://www.hcven.com

About New Enterprise Associates

New Enterprise Associates (NEA) is a leading venture capital firm focused on helping entrepreneurs create and build major new enterprises that use technology to improve the way we live, work and play. With approximately $8.5 billion in committed capital, NEA's experienced management team has invested in over 550 companies, of which more than 160 have gone public and more than 230 have been acquired.
For more at:http://www.nea.com