Health Care Deal News: Spotlight on Venture Capital- May 2012
Alder BioPharmaceuticals, a Washington-based biopharma focused on antibody therapeutics, recently closed on a $38.0 million Series D financing. This comes four years after the company’s Series C round. The current round was led by new investor Novo Ventures and joined by existing investors Sevin Rosen Funds, Ventures West, WRF Capital, H.I.G. Ventures, Delphi Ventures and TPG Biotech. Proceeds from this funding will be used to accelerate the clinical development of Alder’s pipeline of antibody therapeutics. In particular, it will support ALD403, an unpartnered treatment for migraine, and ALD518, a monoclonal antibody in cancer-related indications.
Tioga Pharmaceuticals, a San Diego-based pharma focused on gastrointestinal diseases, closed on a $10.0 million series B equity financing. The round was led by new investor Thomas, McNerney & Partners, which invested $8.0 million in the round. Existing investor Genesys Capital Partners also took part in the round. The proceeds are earmarked to advance phase 3 clinical development of asimadoline for the treatment of diarrhea-predominant irritable bowel syndrome, or D-IBS. Asimadoline has been granted Fast Track designation by the FDA for treating D-IBS. In 2009, Ono Pharmaceutical Co. licensed exclusive rights from Tioga to develop and commercialize asimadoline in Japan, South Korea and Taiwan; Tioga retains all other rights to the compound......Want to read more? Click here for a free trial to The Health Care M&A Information Source and download the current issue today