Bozeman biotech firm SiteOne Therapeutics raises $15 million for development of opioid alternative

“I hope that we can use and leverage SiteOne’s success to attract more biotech companies to Montana,” Abel said. “It’s a wonderful place to live, there is a thriving tech industry in Bozeman and it’s a great environment for business.”

A Bozeman biotech firm announced it has raised $15 million to put toward developing a pain medication alternative to opioids.

In addition to the funding, Bozeman-based SiteOne Therapeutics http://siteonetherapeutics.com/ announced a partnership with pharmaceutical giant Amgen, which will assist with the research and development of the company’s drug.

Much of the $15 million will go toward research at the company’s San Francisco facility, however, Abel said he hopes to also use the funds to build a development team at the Bozeman headquarters.

“I’ve already started recruiting really highly qualified and skilled drug development folks and my intent is to build a world-class pain development team and have the majority of that be here,” he said.

By Lewis Kendall Chronicle Staff Writer

Full Story: http://www.bozemandailychronicle.com/news/economy/local-biotech-raises-million-for-development-of-opioid-alternative/article_65233071-3baa-5df9-a633-22c02f63aa92.html

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Amgen leads Series B investment in Bozeman, Montana’s SiteOne Therapeutics, Montana’s Next Frontier’s 1st Investment

In July 2015, Next Frontier http://www.nextfrontiercapital.com/ , as our first ever investment, led SiteOne’s Series A. The company, with HQ in Bozeman and offices in San Francisco, is developing non-opioid analgesics; the ability to treat chronic pain without habit forming side effects.

http://www.matr.net/article-75040.html