Monday, November 16, 2009

Fate Therapeutics Raises $30M

La Jolla-based Fate Therapeutics is reporting this morning that it has raised $30M in a Series B financing round. The firm, which develops stem cell therapies, said the funding was led by OVP Venture Partners, and included Astellas Venture Management, Genzyme Ventures, a undisclosed corporate investor, as well as prior investors ARCH Venture Partners, Polaris Venture Partners and Venrock. Carl Weissman of OVP joins the company's board with the funding. Fate Therapeutics' lead candidate is a small molecule drug for treating conditions such as leukemia and lymphoma.