GlobeImmune raises $17.5M as it heads toward Phase III

Louisville, CO-based GlobeImmune has hauled in a $17.5 million Series E round, which was led by Generali Financial Holding and BSI SA.

This past year was a "difficult" one for the entire industry, GlobeImmune CEO Tim Rodell told FierceBiotech at the J.P. Morgan conference. But it proved pivotal for GlobeImmune. By the end of the year, the developer was on the threshold of Phase III and had achieved significant validation for its work with Tarmogens. GlobeImmune reported promising Phase IIb data for GI-5005 as a treatment for hepatitis C and a pact with Celgene to discover new cancer therapies. That deal delivered a $40 million upfront and promised up to $500 million in milestones.

GlobeImmune was founded in the late 90s on the research developed by scientists at the University of Colorado. Its researchers have been using recombinant yeast--Saccharomyces cerevisiae--that is genetically modified to express a protein that triggers a killer T cell response directed at diseased cells. These targeted therapies are called Tarmogens (from Targeted Molecular Immunogens.) Biogen Idec and Celgene have both invested in the company.

- check out the GlobeImmune press release

ALSO: Liquidia Technologies, which is developing particle-based vaccines and therapeutics, has completed a $20 million round of Series C financing. Canaan Partners led the Series C round, which also included Pappas Ventures and Morningside Venture Investments Limited as new investors. Release