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Anti-cancer startup gets state financing

September 27, 2013 12:00 am • Last Updated: September 26, 2013 11:58 pm

A homegrown company has been armed in the fight against cancer with $4.25 million in state financing.

Gov. Dannel P. Malloy announced Thursday that the startup, Arvinas Inc., would be located at the New Haven's Science Park and initially employ about 25 people.

The state Department of Economic and Community Development will lend the company $2.5 million, and the quasi-public Connecticut Innovations plans to kick in $1 million in equity funding as well as a facilities loan of $750,000.

The State Bond Commission will meet today to OK the loan. Other investors are Canaan Partners, 5AM Ventures and Elm Street Ventures.

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