Thursday, July 6, 2006

Ambrx Raises $52M

San Diego-based Ambrx has raised $52M in a Series C funding, the company said yesterday afternoon. Ambrx is developing biopharmaceuticals based on protein modification. The round was led by Apposite, and included new investors Glynn Ventures, The Dow Employees Pension Plan, and Union Carbide Employees Pension Plan. Prior investors Tavistock, Maverick Capital, 5AM Ventures, Versant Ventures, Aravis Ventures, CMEA Ventures, and Roche Venture Fund also participated. The firm said that the funding will be used to support the development of the firm's product pipeline, and for general working capital purposes. More information »