US-based biomedical research company Theraclone revealed in an interview on Tuesday that it is currently looking to raise about $10m in venture funding. The interview was conducted by biotechnology web monitor FierceBiotech, which named Theraclone, backed by US-based biotechnology company Amgen, one of its ‘Fierce 15′ most promising biotechnology companies.
Theraclone signed a collaboration pact with US-based pharmaceutical conglomerate Pfizer in January to develop treatments for HIV patients based on antibody research. The deal could be worth up to $632m in research funding and milestone payments.
Theraclone secured a $1.5m round of venture financing from existing investors Arch Venture Partners, Canaan Partners and Healthcare Partners, in March 2010. The venture capital firms had previously participated in a $29m series B round, in March 2007, together with Amgen Ventures, the corporate venturing division of Amgen.
Theraclone is also looking to appoint a permanent chief executive officer (CEO) to replace co-founder David Fanning, who died last year. Steven Gillis of Arch Venture Partners has been acting CEO since then.