Vical, a new San Diego biotechnology company...
Vical, a new San Diego biotechnology company focusing on the development of drugs for the treatment of AIDS, herpes and other viral diseases, has received $2.5 million in venture capital from a group of firms and has hired Wick Goodspeed as president.
Formed in June, 1987, Vical previously received $1 million in start-up or “seed” capital from Biovest Partners, a San Diego investment firm. Vical’s chairman is Biovest principal Timothy Wollaeger. Goodspeed formerly held executive posts with Baxter International and British Oxygen Healthcare.
The $2.5 million was invested by Morgenthaler Ventures, Hillman Ventures, Sutter Hill Ventures, Sequoia Capital and Security Pacific Capital.