Thursday, September 1, 2005

TargeGen Raises $30M Series C

San Diego-based biopharmaceutical company TargeGen has raised a Series C round of venture funding in the amount of $30M. The company said yesterday that it had raised the round from new investor BB Biotech Ventures and H&Q Healthcare Capital Management. Existing investors Forward Ventures, Enterprise Partners, William Blair Capital Partners/Chicago Growth Partners, CDP Capital Technology Ventures/VantagePoint Venture Partners, China Development Industrial Bank, and A.M. Pappas & Associates also participated. Dr. Juerg Eckhardt of BB Biotech Ventures will join the board as part of the deal. TargeGen is developing small molecule kinase inhibitors targeted at the treatment of heart attacks and other vascular diseases and cancer. This round of funding brings the company's total raised to $70M. More information »