Eleven Biotherapeutics, a biopharmaceutical company designing and engineering protein-based biotherapeutics, has secured $20m dollars in Series A equity financing.
The company’s total Series A investment is now up to $45m. New investor, Tokyo-based private equity firm Jafco joined the Series A financing with a $10m investment, while another $10m was received from commitments from existing investors Third Rock Ventures and Flagship Ventures.
“Eleven Biotherapeutics is on the cutting-edge of science and technology with its rationally-designed novel protein therapeutics,” said Kenji Harada, PhD, principal, Jafco. “I look forward to working with Eleven’s leadership team as they move programmes forward that have the potential to offer a truly significant advance over current treatments.”
Harada will also join the Eleven Biotherapeutics, joining joins board members Noubar Afeyan PhD, and David Berry MD, PhD, of Flagship Ventures and Mark Levin and Cary Pfeffer, MD, of Third Rock Ventures.
Proceeds from the financing will be used to advance Eleven’s first programme into clinical development while continuing to advance earlier stage programmes generated by its proprietary product engine, according to company CEO Abbie Celniker PhD.
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