Taligen Therapeutics announces closing on $10M tranche of Series B financing

Aug 23 2010

Taligen Therapeutics, a biotechnology company developing therapies that regulate the complement system to treat inflammatory and immune diseases, today announced that it has closed on a $10 million tranche of a Series B financing, based on substantial progress with the company's product pipeline including advancing the lead product candidate, TT30, toward clinical development. The financing was completed with existing investors, including Clarus Ventures, Alta Partners, Sanderling Ventures and High Country Venture. The original Series B round was secured in February 2008, and with this tranche, Taligen has closed on $36 million of the original $65 million Series B investment.

“This round of funding demonstrates the significant progress we have made over the last several years related to the development of our proprietary tissue targeting platform technology and our lead drug candidate, TT30”

Taligen's R&D programs include potential drug candidates for various genetic and orphan diseases, such as paroxysmal nocturnal hemoglobinuria (PNH), age-related macular degeneration (AMD) and organ transplant.

"This round of funding demonstrates the significant progress we have made over the last several years related to the development of our proprietary tissue targeting platform technology and our lead drug candidate, TT30," said Abbie Celniker, Ph.D., CEO and President of Taligen Therapeutics. "This investment will allow us to advance TT30 through the early stages of clinical development, and to continue to build the rest of our pipeline of novel complement inhibitors."