SEATTLE and SAN FRANCISCO, Oct. 30, 2013 /PRNewswire/ -- Immune Design, a biotechnology company focused on the development of novel immune-based therapies for cancer and other chronic conditions, today announced it has closed a Series C financing totalling up to $49 million. This Series C round includes an upfront investment of $32.5 million, with the right of the syndicate to invest an additional $16.5 million in the near term as programs progress. The financing was led by The Column Group and new investor Topspin Partners, and included existing investors Alta Partners, Versant Ventures, Osage Partners and ProQuest Investments. In addition, Sanofi-Genzyme BioVentures joined the syndicate as a new investor.
The funds will be used primarily to advance Immune Design's cancer immunotherapy product pipeline, including proof-of-concept studies for its lead therapeutic candidates ID-LV305 and ID-G305.
"With a focus on leveraging dendritic cell activation to fight disease, Immune Design has built on the pioneering discoveries of Dr. David Baltimore and the late Dr. Ralph Steinman to discover and develop product candidates that will hopefully result in more effective and targeted cancer treatments," said Peter Svennilson, Founder and Managing Partner of The Column Group.
"Immune Design has made great strides in advancing its innovative immunotherapy technologies and positioning its product candidates to enter clinical evaluation," said Bernard Davitian, Vice President and Managing Director, Sanofi-Genzyme BioVentures. "We look forward to working with the experienced team that has been assembled to help guide this company and are very pleased to support Immune Design in this
|SOURCE Immune Design|
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