By Jennifer Chiou
New York, Dec. 12 - Domantis Ltd. announced it obtained $29 million in a series B round of financing.
Investors included Novo Nordisk and MC Life Science Ventures, Inc.
"Domantis' 12 lead programs are based on novel dAb [domain antibody] products for treating major diseases, including COPD (chronic obstructive pulmonary disease), rheumatoid arthritis, asthma and colorectal cancer," chief executive officer Robert Connelly said in a news release.
"This financing achieves our objectives of securing four years of funding at a significant uplift in valuation while attracting prominent strategic investors.
"Novo Nordisk is the leading biotechnology company in Europe and has a major commitment to developing novel biologics," Connelly added in the release.
The company said it recently achieved milestones involving its dAb treatment for lung disease.
Domantis, which has raised $83 million in financing since its 2000 inception, is a Waltham, Mass., drug development company focused on inflammation, cancer, respiratory and autoimmune diseases.
| Issuer: | Domantis Ltd.
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| Issue: | Preferred stock
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| Amount: | $29 million
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| Round: | Series B
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| Investors: | Novo Nordisk, MC Life Science Ventures, Inc.
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| Announcement date: | Dec. 12
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