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Oxagen Limited Raises $59.8 Million In Series B Private Venture Capital Financing Led By MPM Capital



10/19/2005 5:09:51 PM

ABINGDON, England--(BUSINESS WIRE)--May 23, 2005--Oxagen Limited, a drug discovery and development company specializing in inflammation, announced today the successful completion of a $59.8 Million (GBP 31.6 Million) Series B round led by MPM Capital. The proceeds of the funding will be used to advance Oxagen's lead programme, a novel small molecule anti-inflammatory for asthma to the clinic and to expand the company's clinical and pre-clinical stage portfolio. The investment was led by MPM Capital, and joined by new investors Bessemer Venture Partners, IBT, and Red Abbey as well as existing investors SV Life Sciences, Advent Ventures, 3i, Abingworth, and The Wellcome Trust.

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