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San Mateo, Calif.
Founders: Dr. Michael Selley, Dr. Lawrence Steinman, and Dr. Marc Feldmann
VC Investment over the last four quarters: $27 million
Founded in Australia in 2005 and established in the U.S. in 2007, Nuon Therapeutics is a clinical stage company developing oral treatments for multiple sclerosis and rheumatoid arthritis. The six-employee firm, which had previously raised a $5 million Series A round, is continuing development while conserving cash during the downturn, says CEO Rodney Pearlman. "Since we are in clinical stage development, this can be an expensive phase, so we have to ensure we meet our goals while being fiscally responsive to the current environment," he says.
Key to startup success: "Be opportunistic and think outside the box."