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Seattle biotech Kineta funds research step by step
December 23, 2008 /
Biotech startups are known for burning through huge piles of cash as they do expensive research in hopes of one day hitting the jackpot with a miracle drug.
But in a troubled economy dominated by tightfisted investors, Kineta is trying a new approach. The Seattle-based company in South Lake Union plans to fund its research step by step, relying on revenue-generating deals to undertake the next step in research.
"Our fundraising strategy is to grow in an organic way," said CEO Charles Magness.
By Ángel González
Seattle Times business reporter
Full Story: http://seattletimes.nwsource.com/html/biotech/2008550870_kineta23.html
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Posted in: Washington State Business
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