Ambit Biosciences Gets $49M In Funding

San Diego-based Ambit Biosciences said today that it has raised $49.3M in a Series D equity financing. According to Ambit, the round came from Apposite Capital LLP, and also included MedImmune Ventures, OrbiMed Advisors, Radius Ventures, NovaQuest, and Horizon Technology Finance, along with existing investors Perseus-Soros Biopharmaceutical Fund, Forward Ventures, Avalon Ventures, Roche Venture Fund, GIMV, Jov-CMDF, and Genechem. The firm said the funding will go towards advancing its product pipeline. Ambit is focused on developing small molecule kinase inhibitors for the treatment of cancer. More information »