Eye disease drug developer Inotek Pharmaceuticals, backed by corporate venturing unit MedImmune Ventures, has raised $23.6m in its latest funding round.
A Securities and Exchange Commission filing said the company had raised the sum but it was unclear which firms participated in the latest round.
MedImmune Ventures, the corporate venturing division of Anglo-Swedish pharmaceuticals company AstraZeneca, backed last year’s series D round, which raised $18m. Devon Park Bioventures, a US-based venture capital (VC) firm, led last year’s round as a new investor. Other investors were VC firms Rho Ventures, Care Capital and Pitango Venture Capital and Bio*One Capital, a part of the Singapore Economic Development Board with more than $600m under management.
However, Inotek’s other previous investors, Caisse de dépôt et placement du Québec, Hercules Technology Growth Capital and Mitsubishi UFJ Capital Company were not mentioned as returning in the round.
Between 1997 and 2004, Inotek was funded through more than $50m in federal and private grants and contracts but subsequently raised $79m in three rounds of venture funding with its series C in October 2007. This suggests the latest round has taken the company to about $169.6m raised through grants and venture funding.