Tuesday, April 10, 2007

Ascenta Therapeutics Raises $50M

San Diego-based Ascenta Therapeutics has raised $50M in a Series C financing, the firm said this morning. Ascenta said that it has received $30M in a first tranche of funding, with the remainder of the funding dependent on specific milestones. The funding round came from Perseus LLC, and also included prior investors Domain Associates, Sofinnova Ventures, Enterprise Partners Venture Capital, Scale Venture Partners, and US Venture Partners. Norman Selby of Perseus has joined the firm's board as part of the funding. Ascenta is developing new medicines for the treatment of cancer. More information »