Immune Design, a US-based biotechnology company focused on the development of immune-based therapies for cancer and other chronic conditions, has closed a series C financing of up to $49m, led by The Column Group, a biotechnology-focused venture capital firm, and new investor, private equity fund Topspin Partners; the round included new investor Sanofi-Genzyme BioVentures, the $100m corporate venture capital fund of France-based pharmaceutical company Sanofi and its US-based subsidiary Genzyme, together with existing investors Alta Partners, Versant Ventures, Osage Partners and ProQuest Investments.
The series C round comprises an upfront investment of $32.5m, with the right of the syndicate to invest an additional $16.5m in the near term as programs progress.
The funds will be used primarily to advance Immune Design’s cancer immunotherapy product pipeline, including proof-of-concept studies for its lead therapeutic candidates ID-LV305 and ID-G305.
Bernard Davitian, vice president and managing director, Sanofi-Genzyme BioVentures, said: “Immune Design has made great strides in advancing its innovative immunotherapy technologies and positioning its product candidates to enter clinical evaluation.”