Alder Bio and its yeast-produced antibodies take in $40M
Alder Biopharmaceuticals, a Bothell, Wash., developer of antibody drugs, raised $40 million in a third funding round. Investors included Delphi Ventures, TPG Biotech, Sevin Rosen Funds, Ventures West, H.I.G. Ventures, and WRF Capital.
Alder develops antibody-based drugs for inflammation and autoimmune disease. The company’s lead candidate, ALD518, is currently in clinical trials as a treatment for rheumatoid arthritis and cancer, although neither Alder’s Web site nor its statement disclose when the drug began human tests.
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