By Jennifer Chiou
New York, Sept. 14 - GlobeImmune, Inc. announced it closed on $34.3 million in series B financing.
Lilly Ventures led investors, which included Medica Holdings, Adams Street Partners, Biogen Idec, Inc., Genentech, Inc., Partners Healthcare, HealthCare Ventures, LLC, Morgenthaler Ventures and Sequel Venture Partners.
"This funding will enable us to continue the development of our two lead clinical products, GI-4000 and GI-5005, evaluating the clinical utility of the Tarmogen technology in oncology and infectious disease," chief executive officer Timothy C. Rodell said in a news release.
The company said it plans to use the series B funds to complete a placebo-controlled Phase II clinical trial of GI-4000 in patients with pancreatic cancer as well as complete a placebo-controlled Phase Ib clinical trial of GI-5005 in patients with chronic hepatitis C infection.
The company also said Darren Carroll of Lilly Ventures and Ehud Geller of Medica Holdings have joined its board while Robert Peach of Biogen Idec joins its scientific advisory board.
Previously, GlobeImmune received $4 million in grant financing before raising $8 million in a series A round of financing.
Based in Denver, GlobeImmune is a biopharmaceutical company that develops immunotherapy products called Tarmogens for the treatment of cancer and chronic infectious diseases.
| Issuer: | GlobeImmune, Inc.
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| Issue: | Preferred stock
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| Amount: | $34.3 million
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| Round: | Series B
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| Investors: | Lilly Ventures (lead), Medica Holdings, Adams Street Partners, Biogen Idec, Inc., Genentech, Inc., Partners Healthcare, HealthCare Ventures, LLC, Morgenthaler Ventures, Sequel Venture Partners
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| Announcement date: | Sept. 14
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