Navigation Links
MacroGenics Raises $25M in Series D-2 Financing
Date:9/25/2008

Proceeds to be Used for Advancement of Cancer Stem Cells and Other

Development Programs

ROCKVILLE, Md., Sept. 25 /PRNewswire/ -- MacroGenics, Inc., a privately held biotechnology company that develops immunotherapeutics to treat autoimmune disorders, cancer and infectious diseases, today announced that it has raised $25 million in a Series D-2 financing. The round, led by Nextech Venture, included additional new investors Arcus Ventures, Innovis Investments and Eli Lilly and Company. Also participating in the financing were existing investors Alexandria Real Estate, Alta Partners, CIDC, InterWest Partners, Mitsubishi UFJ, OrbiMed Advisors, Red Abbey Venture Partners, RiverVest, Texas Pacific Group Ventures and Ventures West.

MacroGenics expects to use the proceeds from this financing to fund the cancer stem cell program it acquired through its acquisition of Raven Biotechnologies in July. In addition, the proceeds will be used to further advance the company's autoimmune, cancer and infectious disease product candidate portfolio, as well as for general working capital purposes. MacroGenics' most advanced product candidate is teplizumab, which is being developed in partnership with Eli Lilly and Company. Teplizumab is currently being studied in the PROTEGE trial, a global pivotal Phase II/III clinical trial for individuals with recent-onset type 1 diabetes.

"We are delighted to add Nextech Venture, Arcus Ventures and Innovis Investments, three oncology-focused investors, as well as Eli Lilly and Company to our roster of blue chip shareholders. Our experienced investor syndicate provides critical support to MacroGenics as we drive our programs through clinical development towards commercialization," commented Dr. Scott Koenig, President and CEO of MacroGenics. "In addition, with the recent acquisition of Raven Biotechnologies and the addition of their exciting technologies to our own platforms, we are planning to use a portion of the financing proceeds to support our promising cancer stem cell program as well as the advancement of our other development programs."

"We have been very impressed with MacroGenics' management team, rich biologics pipeline, technology platforms and proprietary expertise in the area of antibody engineering. The company's recent acquisition of Raven Biotechnologies provides MacroGenics with critical mass in oncology discovery and we're very excited about MacroGenics' opportunities in cancer immunotherapy," said Myoung-Ok Kwon, Ph.D., Partner of Nextech Venture.

About MacroGenics, Inc.

Founded in 2000, MacroGenics is a private, fully-integrated biotechnology company headquartered in Rockville, Maryland that focuses on the development, manufacture and commercialization of immunotherapeutics for autoimmune disorders, cancer and infectious diseases. In October 2007, MacroGenics, Inc. and Eli Lilly and Company (NYSE: LLY) announced a global strategic alliance to develop and commercialize teplizumab, a humanized anti-CD3 monoclonal antibody, as well as other potential next-generation anti-CD3 molecules for use in the treatment of autoimmune diseases. Teplizumab is currently being studied in the PROTEGE trial, a global pivotal Phase II/III clinical trial for individuals with recent-onset type 1 diabetes (for more information, please visit http://www.protegediabetes.org). In July 2008, MacroGenics acquired Raven Biotechnologies, Inc., a privately held biotechnology company in South San Francisco, California, focused on the discovery and development of monoclonal antibody therapeutics for oncology through its cancer stem cell program. MacroGenics' proprietary DART (Dual Affinity Re-Targeting) and Fc-optimization technologies offer ways to improve the function of antibodies and similar molecules. For more information about MacroGenics, please visit http://www.macrogenics.com.

About New Investors

Nextech Venture is a global healthcare investment manager located in Zurich, Switzerland. The firm manages three healthcare venture funds (USD 137M), and has recently launched the world's first oncology-focused fund. With its unique oncology-focused fund, Nextech Venture is a dedicated investor in leading oncology companies developing cancer drugs in Europe, the U.S. and Asia. Nextech Venture benefits from the support of an active and committed Scientific Advisory Board of highly influential oncology advisors. Nextech Venture organizes the Global Oncology Venture Event which is held annually in major cities around the globe. For more information, visit http://www.nextechventure.com.

Arcus Ventures consists of a team of professionals with experience in clinical oncology and academic medicine, drug development, hospital management, healthcare industry consulting and private equity. Arcus Ventures is dedicated to investing in oncology focused companies with innovative biopharmaceuticals and or new drug delivery product(s) that have pre-marketing approval and service companies with revenue. For more information, visit http://www.arcusventures.com.

Innovis Investments, located in Irvine, California and Brisbane, Australia, manages and advises two life science funds with focus on private and public companies in Biotechnology, Pharmaceuticals and Healthcare. Innovis Investments has a diverse and integrated team with a strong operational presence in the U.S. and Pacific Rim countries where half of its portfolio companies are located. Innovis Investments supports companies in all life science disciplines, but emphasizes companies in the therapeutics sector that develop biologic drugs for the treatment of metabolic diseases, inflammation and oncology. For more information, please contact innovis@i2vc.com.

Eli Lilly and Company, a leading innovation-driven corporation, is developing a growing portfolio of first-in-class and best-in-class pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaborations with eminent scientific organizations. Headquartered in Indianapolis, Ind., Lilly provides answers -- through medicines and information -- for some of the world's most urgent medical needs. Additional information about Lilly is available at http://www.lilly.com.

Statements made in this news release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "believes," "intends" and similar expressions are intended to identify forward-looking statements. Actual results may differ materially from those projected in any forward- looking statement. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated, such as MacroGenics' ability to raise additional capital and risks related to its ability to initiate, and enroll patients in, planned clinical trials. You should not place undue reliance on any forward-looking statements. MacroGenics assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by law.


'/>"/>
SOURCE MacroGenics, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. MacroGenics Acquires Raven Biotechnologies
2. Jeffrey H. Buchalter Joins MacroGenics Board of Directors as Chairman
3. Yongye Biotechnology International Raises $9.4 Million in Private Placement
4. Proteolix Raises $79 Million in Series C Financing
5. Bacon Eating Contest Raises Money for American Heart Association
6. Baxter Raises Full-Year 2008 Outlook Following Strong Second-Quarter Financial Results
7. Pacific Biosciences Raises $100 Million to Fund Commercial Product Development
8. Alseres Pharmaceuticals, Inc. Raises $5 Million
9. BSP Raises $2.6 Million Dollars From Private Investors
10. Merrimack Pharmaceuticals Raises $60 Million in Private Financing
11. Actress and Mom Lori Loughlin Raises Awareness About the Potential Dangers of Drowsy Driving During Allergy Season
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/23/2016)... WARSAW, Ind. , May 23, 2016 Zimmer ... in musculoskeletal healthcare, today announced that its Board of Directors ... stockholders for the second quarter of 2016. ... on or about July 29, 2016 to stockholders of record ... Future declarations of dividends are subject to approval of the ...
(Date:5/23/2016)... and LONDON , May 23, 2016 /PRNewswire/ ... See Frontage Boost Efficiency by 40% - Frontage Implement ... - Frontage Enforce Quality, Compliance and Traceability Within the Bioanalytical lab ... labs in the United States and ... to be deployed across its laboratory facilities. In addition to serving ...
(Date:5/23/2016)... ... May 23, 2016 , ... ... molecular nanotechnology, announced the winners for the 2015 Foresight Institute Feynman Prizes. ... given in two categories, one for experiment and the other for theory in ...
(Date:5/20/2016)... ... May 20, 2016 , ... The leading Regenerative Veterinary Medicine ... experienced veterinary clients have treated over 100 of their own patients with the VetStem ... the highest level of care for their patients. , The veterinarians are Dr ...
Breaking Biology Technology:
(Date:4/19/2016)... -- The new GEZE SecuLogic access control ... system solution for all door components. It can be ... interface with integration authorization management system, and thus fulfills ... dimensions of the access control and the optimum integration ... considerable freedom of design with regard to the doors. ...
(Date:4/15/2016)... 15, 2016 Research and ... Biometrics Market 2016-2020,"  report to their offering.  , ... , ,The global gait biometrics market is expected ... the period 2016-2020. Gait analysis generates ... be used to compute factors that are not ...
(Date:4/13/2016)... CHICAGO , April 13, 2016  IMPOWER physicians ... are setting a new clinical standard in telehealth ... By leveraging the higi platform, IMPOWER patients can ... weight, pulse and body mass index, and, when they ... quick and convenient visit to a local retail location ...
Breaking Biology News(10 mins):