BioClin Therapeutics, a US-based monoclonal antibody developer backed by pharmaceutical firm Novo, completed a $30m series B round co-led by venture capital firms Sofinnova Ventures and Ysios Capital yesterday.
VC firm HealthCap, investment firm Life Sciences Partners (LSP) and investment adviser Tekla Capital Management also participated in the round, which BioClin said increased its overall funding to $59m.
Founded in 2010, BioClin is working on a monoclonal antibody that will form the basis for therapies to be used in areas of high unmet medical need.
The company intends to use the series B financing to advance its lead drug candidate, a metastatic bladder cancer treatment called B-701 that is presently in phase 1b/2 trials.
Novo provided $20m in stealth series A funding for BioClin in 2012, according to Xconomy. HealthCap, LSP and Tekla Capital Management all took part in the round as existing backers.