Theraclone adds $14M to fuel antibody pipeline work

Seattle-based Theraclone Sciences has gone back to the venture well to add to its Series B round. A lengthy slate of venture backers added $8 million to the round, bringing the total raised so far to $50 million. Arch Venture Partners, Canaan Partners, MPM Capital, Healthcare Ventures, Alexandria Real Estate Equities, Versant Ventures, and Zenyaku Kogyo put up the venture cash while MidCap Financial and Silicon Valley Bank added a credit facility of $6 million.

That money is being invested in its I-STAR platform technology. The biotech, a 2011 Fierce 15 company, is focused on B cells--the cells that archive the body's immunological responses--so it can identify some prime antibody candidates. It's used that process to find antibodies that can work against a range of influenza strains as well as CMV. It also signed up Pfizer ($PFE) at the beginning of 2011 as an enthusiastic discovery partner.

"Theraclone has made significant progress with our lead development programs in flu and CMV as well as the discovery collaboration with Pfizer, demonstrating the strength of our R&D pipeline and technology platform," said Clifford J. Stocks, CEO of Theraclone. "The continued support from our investors represents a vote of confidence and reinforces Theraclone's ability to sustain our rapid pace of activity and development."

- here's the release

Special Report: Theraclone Sciences - 2011 Fierce 15