Clovis Oncology - Top 20 Biotech VC deals of 2009

Company: Clovis Oncology
Based: Boulder, CO
Amount: $145M

Investors: Domain Associates, New Enterprise Associates, Versant Ventures, Aberdare Ventures, Abingworth, Frazier Healthcare Ventures, ProQuest Investments, management team

Scoop: The management team behind Pharmion, which was bought out by Celgene last year for $2.9 billion, rounded up a cool $145 million to fund their newest venture, Clovis Oncology. And this funding came despite the fact that Clovis has no programs in development.

The Boulder, CO-based company will partner up on early-stage cancer programs and take them through development to regulatory approval. The plan is this: Clovis management team will look for other drug developers willing to trade a promising oncology program for a chunk of the $145 million. They believe that with so many biotechs struggling to stay afloat, there will be plenty of companies interested in doing a deal in exchange for cash. And the company has already made its first investment. In November Norway's Clavis Pharma landed a $380 million deal with Clovis Oncology for CP-4126, a pancreatic cancer drug currently in Phase II trials.

Clovis was a 2009 Fierce 15 winner.

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