Theraclone Sciences, Inc. and VLST Corp. Creators Form V-Gene

1/27/2012 7:59:39 AM

Two of the scientific founders of a couple of Seattle’s best-funded biotech startups have come together in a new company that aims to create a valuable antibody drug candidates while burning through the least amount of venture capital possible. The new Seattle-based company, called V-Gene, is being started by combining a couple of technologies developed by Johnny Stine and Steve Wiley. Stine is the founder of Theraclone Sciences (formerly Spaltudaq), and Wiley is the co-founder of VLST, a pair of companies founded at Accelerator. The new startup has gotten a term sheet for an initial $1.2 million in financing from an undisclosed venture investor, Stine says, and although the deal isn’t signed yet, he expects that round to close before the end of March.

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