By Elaine Rigoli
Tampa, Fla., Aug. 23 - Kemia, Inc. said it closed its series C financing, raising $31 million from new and existing investors, and will use the proceeds to advance its lead clinical compound KC706 through initial phase 2 clinical trials and to progress additional programs.
Aberdare Ventures led the round, along with new investors MedImmune Ventures, Inc. and Red Abbey Venture Partners and existing investors Alta Partners, Forward Ventures, Hamilton Bioventures, JPMorgan Partners, Novartis Bioventures, Novo A/S and Texas Pacific Group.
Three new members have been appointed to Kemia's board of directors: Dan Kisner, Wayne T. Hockmeyer and Bonnie Hepburn.
With the addition of the directors, Tamas Bartfai has stepped down from the board but will continue to serve as a lead scientific adviser.
Kemia is a biopharmaceutical company based in San Diego.
| Issuer: | Kemia, Inc.
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| Issue: | Series C financing
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| Amount: | $31 million
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| Investors: | Aberdare Ventures, MedImmune Ventures, Inc., Red Abbey Venture Partners, Alta Partners, Forward Ventures, Hamilton Bioventures, JPMorgan Partners, Novartis Bioventures, Novo A/S and Texas Pacific Group
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| Announcement date: | Aug. 23
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