SEATTLE, Sep 08, 2011 (BUSINESS WIRE) -- Theraclone Sciences, Inc., a therapeutic antibody discovery and development company, today announced a $10.6 million extension to its Series B financing, bringing the total round to $41 million. Previous investors ARCH Venture Partners, Canaan Partners, MPM Capital, Healthcare Ventures, Alexandria Real Estate Equities, Amgen Ventures and Zenyaku Kogyo participated in the financing. Proceeds will help advance Theraclone's clinical programs and support ongoing discovery projects using Theraclone's I-STAR(TM) technology platform, which is designed for the rapid screening and identification of rare, potent and therapeutically-relevant human antibodies.
"The anticipated near-term initiation of Theraclone's first clinical trial and our discovery collaboration with Pfizer earlier this year are important milestones that demonstrate Theraclone's continued progress with our R&D pipeline and technology platform. The continued support from our investors represents both a vote of confidence and an ability to sustain our rapid pace of activity and progress," said Steven Gillis, Ph.D., Executive Chairman and acting CEO of Theraclone.
About Theraclone Sciences
Theraclone Sciences is a Seattle-based biotechnology company focused on the development of novel therapeutic antibodies for the treatment of infectious disease and cancer. The company's technology harnesses the power of the human immune system to identify rare, naturally evolved antibodies from the blood cells of immunologically relevant human subjects. Human monoclonal antibodies can be rapidly isolated using the I-STAR(TM) discovery platform and scaled for industrial production. Such human antibody drug candidates may be uniquely safe and relevant to combating disease across broad patient populations. Theraclone is a privately held company with venture investment from ARCH Venture Partners, Canaan Partners, Healthcare Ventures, MPM Capital, Amgen Ventures and Alexandria Real Estate Equities. For additional information, please visit www.theraclone-sciences.com .
SOURCE: Theraclone Sciences, Inc.
MacDougall Biomedical Communications
Jacqui Miller or Doug MacDougall, 781-235-3060