Dr. Bill Rice, founder of Achillion, wanted to create a new type of drug that could counteract drug resistance in diseases such as HIV. However, after losing both his institutional investor and business partner, Dr. Rice needed to find a partner to help keep his vision alive.
Coming from a family of entrepreneurs, Dr. Rice already possessed the qualities needed to make a business succeed, he just needed a way to build it. CI recognized the potential impact of the medical advancements and provided a $150,000 seed investment to enable him to move his company to Connecticut and raise initial capital.
Over the last 14 years, CI has invested a total of $5.8 million in Achillion and provided $1.7 million in financing through its BioScience Facilities Fund for a laboratory space in New Haven, Connecticut.
The company completed a successful IPO in 2006 that yielded $55.3 million in net proceeds, and today it has three major products in development for the treatment of infectious diseases. In addition, Achillion maintains a strong partnership with Gilead Sciences to develop advanced therapeutics for the treatment of significant unmet medical needs, such as hepatitis C virus (HCV).
Achillion is an innovative biopharmaceutical company dedicated to bringing important new treatments to patients with infectious diseases. Achillion is focused on solutions for HCV and resistant bacterial infections.
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