Virdante Pharmaceuticals Garners $47,750,000 New Financing

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f2093eb0-7909-4d68-9135-22c7ee4b2b04&Preview=1
Date
10/29/2009
Company Name
Virdante Pharmaceuticals
Mailing Address
14 Cambridge Center Bldg 1 Cambridge, MA 02142
Company Description
Virdante is a privately held biopharmaceutical company focused on the development and commercialization of drugs for autoimmune and inflammatory disorders.
Website
http://www.virdante.com
Transaction Type
Venture Equity
Transaction Amount
$47,750,000
Transaction Round
Undisclosed
Proceeds Purposes
Virdante also announced today that the Company plans to use the proceeds from the new financing to pursue development of a second drug, a sialylated recombinant IgG Fc fragment (“sFc”), the segment of IgG responsible for the anti-inflammatory activity of IVIG. In addition, Virdante plans to expand the application of its Sialic Switch technology to improve the potency of important anti-inflammatory antibodies such as anti-TNF drugs.
M&A Terms
Venture Investor
Thomas, McNerny & Partners
Venture Investor
Osage Ventures
Venture Investor
Clarus Ventures
Venture Investor
Venrock
Venture Investor
MedImmune Ventures
Venture Investor
Biogen Idec Inc.