Alder Biopharmaceuticals

Image removed.Alder Biopharmaceuticals

Based: Bothell, WA
Raised: $38 million
Investors: Delphi Ventures, H.I.G. Capita, Novo A/S, Sevin Rosen Funds, TPG Growth, Ventures West Management, WRF Capital

The scoop: Armed with a promising approach to antibody development and partnered with Bristol-Myers Squibb ($BMY) on a rich development deal, Bothell, WA-based Alder snapped up a $38 million venture round. Alder last raised venture cash four years ago. The biotech's Series C had contributed $40 million in 2007. Then BMS signed up for a $1.07 billion pact in 2009, paying $85 million upfront to partner on Alder's lead program, an IL-6 inhibitor for rheumatoid arthritis--ALD518. Alder is studying ALD518 in mid-stage cancer trials while BMS pursues a program for autoimmune diseases. The new money will also be used to put ALD403, Alder's calcitonin gene-related peptide (CGRP) inhibiting antibody therapeutic, in the clinic for migraine. And there's also a PCSK9 program--for dyslipidemia--that's in the wings. Alder was named a Fierce 15 company in 2010.

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Alder Biopharmaceuticals