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Meritage Pharma

Meritage Pharma

San Diego
Founders: Cam Garner, Elaine Phillips, Malcolm Hill, and Adam Simpson
VC Investment over the last four quarters: $22.5 million

Founded in 2008, this nine-employee drug company develops products for the treatment of allergic inflammation of the gastrointestinal tract. "We identified a market that we believe has a true unmet medical need—in this particular instance there is no product approved by the FDA for the treatment of eosinophilic esophagitis," says a Meritage spokesperson in an e-mail. In the midst of the recession, its founders say that it is particularly important to stay focused on execution.

Key to startup success: "If we are able to successfully develop safe and effective products to meet the unmet medical needs of patients and their caregivers, we believe that capital will continue to be available."