USA, Virdante Pharma Raises New Financing
Summary
Cambridge, MA-based Virdante Pharmaceuticals, a developer of drugs for autoimmune and inflammatory diseases, announced the closing of a new financing, which brings the total amount raised since January 2008 to $47.75m.This extension of its Series A financing was led by Thomas, McNerney & Partners with participation by Osage Partners and previous investors Clarus Ventures, Venrock, MedImmune Ventures and Biogen Idec New Ventures.The company will use the proceeds to pursue development of a second drug, a sialylated recombinant IgG Fc fragment, the segment of IgG responsible for the anti-inflammatory activity of IVIG.In addition, Virdante plans to expand the application of its main product, Sialic Switch technology, to increases the anti-inflammatory activity of antibody-based drugs.FinSMEs 29/10/2009