Healthcare Industry News: protein therapeutics
News Release - August 23, 2010
Taligen Closes $10 Million Series B Financing TrancheAdvances lead program, TT30, toward clinical development
CAMBRIDGE, Mass.--(Healthcare Sales & Marketing Network)--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 companyís 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.
Taligenís 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.Ē
About Taligen Therapeutics
Taligen Therapeutics is a biotechnology company pioneering a new approach to treating inflammatory and immune diseases by regulating the complement system, a potent and ubiquitous immune pathway. Based on new insights and unique proprietary technology related to complement biology, Taligen is building a deep product candidate pipeline of novel protein therapeutics which selectively identify, target and concentrate on inflammatory tissues. Taligenís targeted drugs have been shown to naturally and broadly control aberrant inflammation in a broad array of genetic, orphan and large market diseases. Founded in 2004, Taligen Therapeutics maintains its headquarters in Cambridge, Massachusetts. For additional information about the Company, please visit www.taligentherapeutics.com.
Source: Taligen Therapeutics
Issuer of this News Release is solely responsible for its
Please address inquiries directly to the issuing company.