Lilly Ventures pumps funds into startup

HemaQuest Pharmaceuticals, a startup in Newton, Mass., said today it has received $20 million in funding from Lilly Ventures, De Novo Ventures of Palo Alto, Calif.; and Forward Ventures of San Diego.

The amount of the investment by Lilly Ventures, the venture capital arm of Indianapolis-based Eli Lilly and Co., wasn’t specified.

HemaQuest is developing small molecule therapies to treat sickle cell anemia and other blood disorders.

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