The Tech Coast Angels, Southern California's biggest and most active angel investing group, appears to be backing a developer of prescription drug validation systems, based in Lebanon, N.H. According to a regulatory filing from PharmaSecure, it has raised $2.5M out of a $6M funding round, currently in progress. The firm lists the Tech Coast Angels, Gray Ghost Ventures, Life Science Angels, Angeli Parvi, and Echoing Green as investors; the TCA's Jay Kunin sits on PharmaSecure's board of directors. PharmaSecure's systems are being applied to prevent drug counterfeiting .....
SAN DIEGO, April 4, 2011 /PRNewswire/ -- AnaBios Corporation, Inc., an innovative contract research organization that deploys assays and develops databases for the assessment of efficacy and safety of drugs, announced today that the company has closed on the first $800 thousand dollar raise of a total Series A investment of up to $2 million dollars from investors led by the Tech Coast Angels. Tech Coast Angels' Angel Capital Entrepreneur (ACE) Fund is also participating. A portion of the proceeds from the investment will be utilized to fund AnaBios' new laboratory facility in San Diego.
CEO...