Idun Finds $27M

San Diego-based Idun Pharmaceuticals announced it has raised $27M in a first closing of a $65.6M funding. The funding came from MPM Capital, Sutter Hill Ventures, Prospect Venture Partners, Pacific Rim Ventures, and Aberdare Ventures, in addition to its existing investors GeneChem, Venrock Associates, Hambrecht & Quist Capital Management, RBC Capital Partners, BioVeda Capital and Ventana Capital Management. Idun is developing biopharmaceuticals targeted at liver disease. Luke Evnin, Ph.D. from MPM, and Jeffrey Bird, from Sutter Hill will join the company's board. More information »