GangaGen Raises $1.8 Million

GangaGen Inc., a Palo Alto, Calif.-based developer of products for the treatment of bacterial infections, has raised $1.8 million in VC funding from ATEL Ventures. 

PRESS RELEASE

ATEL Ventures, a leading provider of financing to emerging growth companies, is pleased to announce its $1.8 million investment in GangaGen, Inc., a biotechnology company focused on the development of bacteriophage-based products for the treatment of bacterial infections.  The funding will be used to support the growth of GangaGen’s innovative product lines that are aimed at treating antibiotic-resistant infections.

“The rise of super bugs and the need for antibiotic alternatives make this an excellent opportunity,” said Steve Rea, Executive Vice President at ATEL Ventures, a division of ATEL Capital Group. “We are confident that we will soon be seeing GangaGen’s innovative approach revolutionize the treatment of antibiotic resistant bacterial infections such as Methicillin-resistant Staphylococcus aureus (MRSA).” To learn more about bacteriophages please view the following video at http://www.blinkx.com/video/phage-the-virus-that-cures-avi/EHD0WfUgAga0ME6-ZKbunA.

ATEL Capital formed ATEL Ventures, Inc. to provide equipment financing, working capital term loans and equity financing to emerging growth companies including the fields of information technology, life sciences, specialty retail and alternative energy.  For information about ATEL Ventures, contact Steven Rea, executive vice president, or visit their website at www.atel.com/venture.