Visterra bags USD30m in Series B financing.
M2 EQUITYBITES-October 2, 2014-Visterra bags USD30m in Series B financing
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2 October 2014 - US biotechnology company Visterra Inc said today it had raised USD30m (EUR24m) in a Series B funding round co-led by new investors Merck Research Labs Venture Fund, Vertex Venture Holdings Ltd and Temasek Holdings (Private) Ltd.
Cycad Group and existing investors Polaris Partners, Flagship Ventures, Omega Funds and Alexandria Venture Investments also supported the fund-raising exercise.
As part of the transaction, Vertex Venture partner Lincoln Chee is getting a seat on Visterra's board, while Merck Research Labs Venture Fund managing director Janelle R. Anderson will serve in a board observer capacity.
Visterra said it would use the fresh funds to advance the development of multiple product candidates from its pipeline of novel monoclonal antibodies that target infectious diseases such as influenza and dengue fever.
Visterra uses its proprietary technology platform to identify unique disease targets and design novel therapeutics, with a focus on therapeutics for infectious diseases.
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