Alder BioPharmaceuticals Inc., Bothell, Wash.-based developer and manufacturer novel antibody therapeutics for cancer, pain, cardiovascular and autoimmune and inflammatory disease areas, has closed a $38m Series D financing.
The round was led by a new investor, Novo Ventures, with participation from existing investors Sevin Rosen Funds, Ventures West, WRF Capital, H.I.G. Ventures, Delphi Ventures and TPG Biotech.
In conjunction with the funding, Peter Bisgaard, a partner with Novo Ventures, will join Alder’s board of directors.
The company intends to use the funding to advance the clinical development of ALD403, its investigational monoclonal antibody for migraine, which inhibits a well-validated molecule shown to trigger migraine attacks, calcitonin gene-related peptide (CGRP), and will enter this clinic this quarter; and of ALD518, its investigational monoclonal antibody to the pro-inflammatory cytokine IL-6, which is currently being investigated in ongoing Phase 2 clinical studies in cancer related indications.
Alder BioPharmaceuticals is led by president and chief executive officer Randall Schatzman, Ph.D.