Purdue student venture fund invests in Kylin Therapeutics

March 16, 2009
Purdue University's Student-Managed Venture Fund is betting its bank on West Lafayette-based biotech startup Kylin Therapeutics Inc.

This month, MBA students in the Krannert Graduate School of Management invested $100,000 in Kylin, which represents 77 percent of their fund's total assets. Kylin, in the Purdue Research Park, is in the preclinical stage of commercializing a technology to target and "turn off" diseasecausing genes.

Including the student's investment, Kylin last month raised $2 million in a venture capital round led by West Lafayette-based In-vivo Ventures and Durham, N.C.-based Golden Pine Ventures. The company plans to use the money to advance its cancer therapy to the marketplace.

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