By Lisa Kerner
Charlotte, N.C., Oct. 12 - Morphotek Inc. closed a $40 million series D financing, according to a company news release.
Proceeds will be used to further clinical development of the company's lead therapeutic antibodies, MORAb-003 and MORAb-009, and to advance Morphotek's pipeline of preclinical antibodies for the treatment of cancer, inflammatory diseases and infectious diseases.
Investor Growth Capital of New York led the round and was joined by new investors MDS Capital and Hunt BioVentures, plus existing investors Forward Ventures, Morgenthaler Ventures, SR One, Flagship Ventures, Burrill & Co., CB Health Ventures and Rock Maple Ventures.
Sunny Sharma of Investor Growth Capital and Benjamin Rovinski of MDS Capital will join Morphotek's board of directors in connection with the financing.
Morphotek is a privately held biopharmaceutical company based in Exton, Pa.
| Issuer: | Morphotek, Inc.
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| Issue: | Series D financing
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| Amount: | $40 million
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| Investors: | Investor Growth Capital of New York (lead), MDS Capital, Hunt BioVentures, Forward Ventures, Morgenthaler Ventures, SR One, Flagship Ventures, Burrill & Co., CB Health Ventures, Rock Maple Ventures.
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| Placement agent: | Montgomery & Co.
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| Announcement date: | Oct. 12
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