, a Cambridge, MA-based biotechnology company developing therapies that regulate the complement system to treat inflammatory and immune diseases, has closed on a $10m tranche of a Series B financing
Based on substantial progress with the company’s product pipeline including advancing the lead product candidate, TT30, toward clinical development, the financing was completed with existing investors, including Clarus Ventures, Alta Partners, Sanderling Ventures and High Country Venture.
The original Series B round was secured in February 2008, and with this tranche, Taligen has closed on $36m of the original $65m Series B investment.
As explained by Abbie Celniker, Ph.D., CEO and President of Taligen Therapeutics, this investment will allow the company to advance TT30 through the early stages of clinical development, and to continue to build the rest of its pipeline of novel complement inhibitors.
Taligen’s R&D programs include potential drug candidates for various genetic and orphan diseases, such as paroxysmal nocturnal hemoglobinuria (PNH), age-related macular degeneration (AMD) and organ transplant.