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Sanofi Genzyme Bioventures announce a brace of deals
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 recruits $38m Series E and CMO
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.