Magen BioSciences completes $15.4 million in series A financing

By Lisa Kerner

Charlotte, N.C., Aug. 28 - Magen BioSciences, Inc. secured $15.4 million in new series A financing.

Proceeds from this financing will be used to further develop and expand Magen's therapeutic programs and operations, according to a company news release.

Highland Capital Partners led the round, joined by new investors IDG Ventures and QVT Financial LP, and previous investors Alexandria Real Estate, ARCH Venture Partners, Lux Capital, TVM Capital and Venrock Associates.

Highland's Robert Higgins will join Magen's board of directors.

Magen is a specialty pharmaceutical company focused on developing proprietary medical therapies for the dermatology market.

Issuer:	Magen BioSciences, Inc.
Issue:	Series A financing
Amount:	$15.4 million
Investors:	Highland Capital Partners (lead), IDG Ventures, QVT Financial LP, Alexandria Real Estate, ARCH Venture Partners, Lux Capital, TVM Capital, Venrock Associates
Announcement date:	Aug. 28

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