Vascular biology biotech TargeGen raises $40M
San Diego’s TargeGen, a biotechnology targeting disease treatments related to abnormal blood-vessel growth, raised $40 million in a fourth funding round. New investors included Innovis Investments, VantagePoint Venture Partners and CTI Life Sciences Fund, joined by existing investors Forward Ventures, Enterprise Partners, Chicago Growth Partners.
TargeGen’s potential disease targets range from eye diseases such as age-related macular degeneration (AMD) to cancer to heart disease. Its leading drug candidate, TG100801, completed an early-stage phase I trial in AMD-related vision loss in February, but said only that the drug appeared safe and “well tolerated.”
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About the Author, David P. Hamilton
David Hamilton has been writing for VentureBeat LifeScience since April 2007. He formerly spent 14 years as a reporter for the Wall Street Journal in its San Francisco and Tokyo bureaus. Prior to that, he spent several years as a reporter at Science Magazine and as a reporter/researcher for the New Republic, both in Washington.