Ablynx pockets $50M in third round

Belgium's Ablynx has raised $50 million in its third round of venture capital. The round was led by new investor KBC. SR One, the venture capital arm of GSK, was the second new investor. Combined with its existing cash, Ablynx says it will now be able to fund operations through to at least mid-2008, allowing the company to further develop its product pipeline based on its Nanobody technology and to rapidly increase its head count, which is currently just over seventy.

- here's the release on the latest round

ALSO: San Diego-based Kemia announced today that it has closed its Series C financing, raising $31 million from new and existing investors. The company plans to use the proceeds to advance its lead clinical compound, KC706, through initial Phase II clinical trials and to progress additional Kemia programs into the clinic. Release