Venture capital-backed biotech business Immune Design has collected up to $49m in Series C financing as it continues to develop immune-based therapies for cancer and other chronic conditions.
The Column Group and new investor Topspin Partners led the round, which includes an upfront investment of $32.5m and the right for the syndicate to invest an additional $16.5m in the near term as programmes progress.
Existing backers Alta Partners, Versant Ventures, Osage Venture Partners and ProQuest Investments also took part in the financing, while Sanofi-Genzyme BioVentures joined the syndicate as a new investor.
Immune Design said the funding would primarily be used to advance its cancer immunology product pipeline.
Sanofi vice president and managing director Bernard Davitian said, “Immune Design has made great strides in advancing its innovative immunotherapy technologies and positioning its product candidates to enter clinical evaluation.
“We look forward to working with the experienced team that has been assembled to help guide this company and are very pleased to support Immune Design in this financing.”
Yesterday AltAssets reported that venture capital firm Adage Capital Partners had led a $35m Series D round for biotech company Calithera Biosciences, which develops novel cancer therapeutics.
Longwood Fund and two other institutional investors also participated in the round, as did existing backers Morgenthaler Ventures, Advanced Technology Ventures and Delphi Ventures.
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