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CAMBRIDGE, MA — March 1, 2004 – Momenta Pharmaceuticals, Inc.,
a biotechnology company that specializes in applying advanced technology
for complex sugars to the discovery and development of pharmaceutical
products, announced today that it closed $20.5 million in a Series C private
equity financing on February 27, 2004 from new investor Mithra Ventures
and existing investors Polaris Venture Partners, Atlas Venture, MVM Life
Science Partners, and Cardinal Partners. The proceeds from this financing
will be used to accelerate Momenta’s commercial and research initiatives
and to expand its scientific team. Including this financing, Momenta has
raised more than $45.5 million since its inception.
About Momenta
Momenta Pharmaceuticals, Inc. is a biotechnology company focused on
applying its understanding of the chemistry and biology of complex sugars
to the discovery, development, and commercialization of drug products.
In its short history, Momenta has built a pipeline of novel development
candidates and near-term product opportunities, based on the application
of its technology to existing products and molecules. Momenta’s
proprietary technology provides increased understanding of the role
that sugars play in cellular function, disease, and drug action by enabling
precise chemical structure characterization and engineering of complex
sugars and glycosylated biomolecules. Momenta intends to leverage this
insight to develop novel therapeutics, make improvements to existing
drugs, and to discover new biological processes and pathways. Founded
in 2001, Momenta is headquartered in Cambridge, MA. Additional information
about Momenta is available on the company’s website, www.momentapharma.com,
which is not a part of this press release.
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This press release contains archival information, which should not
be considered current and may no longer be accurate.
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