Thursday, September 23, 2010

Cytomx Gets $30M, But Plans Move North

Santa Barbara-based CytomX Therapeutics, a biotechnology firm developing antibodies, said this morning that it has raised $30M in a Series B funding round. The round was led by Third Rock Ventures, and also included the Roche Venture Fund. The firm said the funding will go towards its antibody platform--but, in a blow to local efforts to spur local biotech activity, said it also is moving the company to the Bay Area by the end of the year. As part of the funding, Neil Exter and Charles Homcy of Third Rock join the company's board of directors. CytomX is headed by Nancy Stagliano. CytomX was started in 2008, based on research out of UC Santa Barbara. The firm did not say why it is moving to the Bay Area. More information »