The Kansas Bioscience Authority on Wednesday announced the recipient and amount of an investment awarded last month: Animal drug company Aratana Therapeutics will receive about $324,000 in KBA funding.
The KBA's board of directors approved the funding last month, but at the company's request the amount and recipient were kept secret until now.
Aratana Therapeutics, based in Kansas City, Kan., develops new medicines for animals. It formed in December 2010.
The KBA will invest the funds in the company's stock to keep its ownership stake. It invested $1 million in Aratana in 2011 and awarded it a $1.3 million research and development grant last year.
"The initial investment in Aratana Therapeutics three years ago was successful in yielding $30 million in new equity investment in the state, which led to new jobs, increased research spending and the attraction of new animal health companies to Kansas," KBA president and CEO Duane Cantrell said in a release.
Aratana had requested confidentiality until its round of fundraising had closed, according to the release.