Adenosine Therapeutics

Dr. Joel Linden, a professor at the University of Virginia (UVA), and Robert Capon, a Charlottesville entrepreneur, knew that startup funding would be a major challenge when they incorporated Adenosine Therapeutics (ATL) in 1999.

CIT recognized ATL’s potential based on intellectual property developed at UVA. Along with the National Institutes of Health, CIT invested in research the company conducted on therapies to reduce toxin-induced mortality in systemic anthrax.

ATL’s research programs have since led to the development of novel pharmaceutical products used in cardiac imaging, and for treatment of asthma, diabetes, Parkinson disease, cancer, ophthalmic disease,
heart attacks, chronic obstructive pulmonary disease, sickle cell crisis, arthritis and other diseases. In addition to technologies at UVA, ATL has developed a robust medicinal chemistry laboratory and a system for optimizing and developing leading-edge compounds.
ATL announced in 2007 that Novartis had purchased certain rights related to ATL’s asthma and diabetes programs. Additionally, Novartis BioVentures is the lead investor in Adenosine Therapeutics’ $14 million series “C” financing.