Crown raises $28.8M for oncology work

Santa Clara, CA-based Crown Biosciences has raised $28.8 million in a third round of venture financing, according to Xconomy. The cancer drug developer says it plans to use the funding to expand services in integrated cancer drug discovery and translational oncology, as well as to fund new initiatives in other therapeutic areas. OrbiMed Advisors Caduceus Asia Partners Fund, Argonaut Private Equity, the CID Group, IBT and CDIB Capital Investment led the round. Crown release | Report

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