Intellikine Raises $51M

La Jolla-based Intellikine, a developer of small molecule drugs for the treatment of cancer, inflammation, and autoimmune diseases, said Wednesday that it has raised $51M in a financing round for the firm. The round was led by Novartis Bioventures, and also included U.S. Venture Partners, Biogen Idec, and FinTech Global Capital. Prior investors Abingworth, CMEA Capital, and Sofinnova Ventures also participated. Markus Goebel from Novartis Venture Funds will join Intellikine's board along with the funding. The firm said the funding was split into a $28.5M, first close, plus access to another $22.5M if certain milestones are met. The new round brings the company's total funding to $63.5M. More information »