Company: Ambit Biosciences
Based: San Diego-CA
Investors: Aisling Capital, Avalon Ventures, Canadian Medical Discoveries Fund, F. Hoffmann - La Roche, Forward Ventures, GIMV, GeneChem Financial Corporation, MedImmune, OrbiMed Advisors, Radius Ventures, Undisclosed Investor, Undisclosed Venture Firm
Scoop: The funding is being used to support advancement of Ambitâ€™s product pipeline, which includes several drug candidates in clinical and pre-clinical development. They included AC220 for Acute Myeloid Leukemia, a preclinical drug for colon, prostate, breast, lung, pancreatic and other cancers, and another drug for melanoma. Ambit was recently spotlighted in our weekly Emerging Drug Developer column. It was also a 2006 Fierce 15 company.