Theraclone Sciences Closes $14M in Series B and Debt Financing

Theraclone Sciences, a Seattle-based developer of novel therapeutic antibodies for the treatment of infectious disease and cancer, closed $14m in Series B and debt financing.

Backers included existing investors ARCH Venture Partners, Canaan Partners, MPM Capital, Healthcare Ventures, Alexandria Real Estate Equities, Amgen Ventures, Versant Ventures and Zenyaku Kogyo, which committed $8m with $6m in venture debt was secured through a credit facility with MidCap Financial and Silicon Valley Bank.

The company intends to use the funds to advance its clinical programs and support ongoing discovery projects using its I-STARâ„¢ technology platform, which is designed for the screening and identification of rare, potent and therapeutically-relevant human antibodies.

Ld by Clifford J. Stocks, CEO, Theraclone has established discovery partnerships with Pfizer, Zenyaku Kogyo and the International AIDS Vaccine Research Initiative. In addition, the company has two proprietary antibody programs in clinical development for pandemic and seasonal influenza and human cytomegalovirus (HCMV).

FinSMEs

25/03/2013

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