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goBalto Secures $500,000 in Series B Angel Funding

goBalto.com receives funding from three drug development industry veterans

San Francisco, CA – July 21, 2009 – goBalto, Inc. announced today that it has secured $500,000 in series B angel funding from several drug development industry veterans including Dr. Cary Queen, Dr. Donald Gerson and goBalto founder Jae Chung.

Since launching in April 2009, goBalto has acquired over 4,000 professional members from the pharmaceutical and biotech industries who are involved in evaluating and selecting drug development and manufacturing partners. In addition, the goBalto site aggregates over 8,500 service providers including Clinical Research Oganizations (CROs), preclinical CROs, Investigator Sites, Contract Manufacturing Organizations, Generic Drug Suppliers and consultants from all over the world.

The new funding will be used to build out additional website collaboration functionality and to implement targeted membership development activities.



About the investors

Dr. Cary Queen, cofounded Protein Design Labs in 1986. Today Dr. Queen is CEO of Galaxy Biotech, a start-up company with laboratories in Mountain View, CA. Galaxy Biotech is developing humanized antibodies against growth factors and their receptors for the treatment of cancer.

Dr. Donald Gerson is CEO of PnuVax Incorporated, a start-up firm specializing in the large scale production of adult vaccines. PnuVax is headquartered in Kingston, Ontario Canada. Prior to starting PnuVax, Dr. Gerson was the president and COO of Celltrion’s Technology and Manufacturing Division.

Jae Chung founded goBalto in October 2008. Prior to goBalto, he cofounded Celltrion a contract biopharmaceutical group in Asia. Chung secured contract deals with Bristol-Myers Squibb and CSL and has been credited with landing the largest biomanufacturing supply agreement in Asia to date.

About goBalto

goBalto develops next-generation, cloud-based solutions that simplify how clinical trials are conducted in the pharmaceutical, biotechnology, and medical device industries. Our flagship product, Tracker, is a purpose-built software-as-a-service clinical research tool. It enables clinical trial sponsors and research organizations to track and collaborate on operational data in a transparent, regulatory-compliant, and user-friendly way. Founded in 2008 in Silicon Valley by biotechnology industry veteran Jae Chung, goBalto is backed by leading health technology investors. For more information, visit www.gobalto.com.


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