Bridge Pharmaceuticals has closed on a second round of $35 million in venture financing. The money goes to expanding its preclinical operations in China and will fund its M&A activity. Bridge acquired the preclinical division of Gene Logic of Gaithersburg, MD in December. Bridge is aggressively developing its contract research organization in China, where it hopes to parlay the country's lower costs and scientific talent into more development deals. Granite Global Ventures joined existing investors for the round.
- see the release on Bridge's round
ALSO: Locus Pharmaceuticals, a computationally based drug design and development company, has closed on a $30.2 million financing round. Novartis Bioventures, Prism Venture Partners and HBM BioVentures (Cayman) co-led the round. "As a result of this funding, we will be moving more programs into the clinic in addition to advancing our LP-261 cancer program already in Phase I," said Locus CEO Joseph Reiser. Release
PLUS: South San Francisco-based Trellis Bioscience has raised $10 million in its second round. Release