AAA GSK stars in $55m Constellation round

GSK stars in $55m Constellation round

US-based biopharmaceutical company Constellation Pharmaceuticals closed a $55m round of funding on Wednesday backed by SR One, the corporate venturing arm of pharmaceutical firm GlaxoSmithKline.

Private equity firm Topspin Partners co-led the round with undisclosed investors, while Third Rock Ventures, Column Group, Venrock and unnamed funds also contributed capital.

Founded in 2008, Constellation’s treatments are based on the study of epigenetics, the field of genetics that seeks to understand changes in genes which are not caused by changes in the DNA sequence.

Constellation currently has two clinical-stage lead candidates being developed to deactivate specific disease-causing genes and target cancers that have so far been difficult to treat.

The funding, which follows $5m from unnamed backers in August 2014, will help Constellation to advance these programs as well as the remainder of its pipeline.

Genentech, a subsidiary of pharmaceutical company Roche, inked a strategic agreement with Constellation in 2012 with a total value of $95m. Constellation received an undisclosed sum upfront and the remaining cash for research spread out over the following three years.

Constellation closed a $37m series B round in 2011, after SR One, Third Rock, Column, Venrock and Altitude Life Science Ventures added $15m to an SR One-led first tranche in 2010 that included Third Rock, Column, Venrock and Altitude.

Third Rock, Column, Venrock and Altitude previously backed a $32m series A round, which was raised over three tranches and closed in 2009.

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