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Theraclone Sciences, Inc. Secures $14 Million


3/25/2013 7:53:29 AM

SEATTLE--(BUSINESS WIRE)-- Theraclone Sciences, Inc., a therapeutic antibody discovery and development company, today announced a $14 million financing. $8 million in equity is committed from existing investors ARCH Venture Partners, Canaan Partners, MPM Capital, Healthcare Ventures, Alexandria Real Estate Equities, Amgen Ventures, Versant Ventures and Zenyaku Kogyo in a Series B Extension, bringing the total round to $50 million. An additional $6 million in venture debt has been secured through a credit facility with MidCap Financial and Silicon Valley Bank. Proceeds will help advance Theraclone’s clinical programs and support ongoing discovery projects using Theraclone’s I-STAR™ technology platform, which is designed for the rapid screening and identification of rare, potent and therapeutically-relevant human antibodies.

“Theraclone has made significant progress with our lead development programs in flu and CMV as well as the discovery collaboration with Pfizer, demonstrating the strength of our R&D pipeline and technology platform,” said Clifford J. Stocks, CEO of Theraclone. “The continued support from our investors represents a vote of confidence and reinforces Theraclone’s ability to sustain our rapid pace of activity and development.”

About Theraclone Sciences

Theraclone Sciences is a Seattle-based biotech focused on the development of novel therapeutic antibodies for the treatment of infectious disease and cancer. The Company’s I-STAR™ technology harnesses the power of the human immune system to identify rare, naturally evolved monoclonal antibodies from the blood cells of immunologically relevant human subjects. Theraclone has established discovery partnerships with Pfizer, Zenyaku Kogyo and the International AIDS Vaccine Research Initiative. In addition, the Company has two proprietary antibody programs in clinical development for pandemic and seasonal influenza and human cytomegalovirus (HCMV). www.theraclone-sciences.com.

Contact:

MacDougall Biomedical Communications

Michelle Avery, 781-235-3060

or

Christine Labaree, 650-339-7533


Read at BioSpace.com

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