One week after filing for an initial public offering (IPO), US-based biotechnology firm Verastem has secured a further $20.1m in a series C round of funding. The financing was filed for on 10th November.
Verastem has not disclosed the investors from the latest round, however the backers were all previous investors in Verastem, having participated in Verastem’s $32m series B round in July.
According to information on the IPO filing, the largest shareholders in Verastem are venture capital (VC) firms Longwood Founders Fund and Bessemer Venture Partners, VC partnership Cardinal Partners and private equity investor MPM Bioventures, while founder Christopher Westphal previously headed pharmaceutical corporation GlaxoSmithKline’s corporate venturing unit, SR One, which is also an investor in Verastem.
Verastem’s filing last week indicated it was looking to raise up to $50m from the IPO.