Visterra, Inc., a Cambridge, MA-based developer of novel medicines to prevent and treat infectious and other major diseases, has raised an additional $13m to complete a $26M Series A financing.
New backers Bill & Melinda Gates Foundation (which made this equity investment as part of its program-related investments (PRI) strategy) and Omega Funds participated with the existing investors Polaris Venture Partners, Flagship Ventures and Lux Capital.
The company intends to use the capital to further develop and validate its technology platform and advance its proprietary infectious disease product pipeline.
Based on the scientific work of Dr. Ram Sasisekharan at MIT and led by Steven Brugger, CEO, Visterra develops VIS410, a broad spectrum antibody for the prevention and treatment of both seasonal and pandemic influenza.
The company is also building a proprietary pipeline of novel antibodies in infectious disease, and continuing to expand its disease area focus through strategic partnerships in infectious and other diseases.
In September, 2012, Visterra announced an antibody discovery collaboration deal with Pfizer.