Coherus Biosciences, a US-based company making biosimilar medications that reduce cost and enhance the availability of drugs, has received $55m in its series C round.
Lilly Ventures, the venture capital arm of life science company Eli Lilly, reinvested in Coherus through the round. Other returning investors were venture capital firms Sofinnova Ventures and Vivo Capital.
First time investors KKR, Venrock, RA Capital Management, Rock Springs Capital and Fidelity Biosciences also participated in the round. The latest round brings Coherus’ funding, covering equity, and non-dilutive licensing fees and milestones, to $220m.
Denny Lanfear, chief executive of Coherus, said: “We are very pleased to have the confidence and financial support of such an extraordinary group of healthcare investors.
Since its founding four years ago, Coherus has made excellent progress on its goals of moving biosimilar biologics into phase 3 trials and onto the market. The capital resources provided by our investors will allow us to prosecute our development plans, optimise our partnering strategies and deliver essential therapeutics to patients faster.”
Ali Satvet, Director of KKR’s health care investing team, will join Coherus’ board of directors.