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Sanofi Genzyme Bioventures announced to financing deals today (Sept 8 – 2015), as it contributed to the financing of Proteostasis Therapeutics, a Series B mezzanine round of $37m to the company developing a cystic fibrosis drug for the orphan disease. The financing in the Cambridge, MA based company was led by Cormorant Asset Management and also included Rock Springs Capital Management. Existing investors New Enterprise Associates, Elan Science One, HealthCare Ventures, Fidelity Biosciences, Novartis Bioventures, Novartis Venture Fund, and Sanofi Genzyme BioVentures also participated in the financing.
Selecta Biosciences raises $38m in Series E funding and also appoints Earl (‘Skip’) Sands, MD, as Chief Medical Officer (CMO). The company is a clinical stage biotech developing a novel class of targeted antigen-specific immune therapies. Proceeds from the financing will be used to advance multiple product candidates from Selecta’s Synthetic Vaccine Particle (SVP) platform, which creates antigen-specific immunotherapeutics, with priority implementation of the clinical program for Selecta’s lead immunotherapeutic candidate, SEL-212, which is designed to be the first nonimmunogenic biologic therapy for gout.
Ovid Therapeutics Inc. (Ovid), a privately held biopharmaceutical company focused on developing therapies for rare and orphan diseases of the brain, announced today that it has completed a Series B financing totaling $75 million. Fidelity Management and Research Company led the investment syndicate, which included Cowen Private Investments, Sanofi-Genzyme BioVentures, Tekla Capital Management, Sphera Global Healthcare Fund, Jennison Associates (on behalf of certain clients), Redmile Group, and Cormorant Asset Management, as well as additional blue chip mutual funds and leading life sciences investors. Existing Ovid investors, including DoubleLine Equity Healthcare Fund, LLC, also participated in the financing.
Unum Therapeutics, a biotech out of Cambridge, Massachusetts which is developing a universal cellular immunotherapy to treat multiple cancers, has hired Geoffrey Hodge as Senior Vice President, Operations, effective immediately. Mr. Hodge will be responsible for leading both technical operations, including process development and manufacturing of the company’s proprietary antibody-coupled T-cell receptor (ACTR) therapies, and non-technical operations at Unum.