Promedior's new $21.5M series D helps advance fibrosis portfolio, including IPF and mylelofibrosis
This article was originally published in Scrip
Promedior, a US company developing therapies for fibroproliferative diseases, has novel biologic candidates in some crowded investigational areas, but it believes its candidates offer a highly differentiated approach – and it hopes to have proof of concept data next year. The company has just gained a fresh $21.5 million injection of venture cash in a series D financing round, led by a new investor, Fibrotec Ventures LLC (which focuses on innovative fibrosis platforms).
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ChemoCentryx has successfully completed its initial public offering on Nasdaq, raising $45 million to help support its multiple R&D programmes. It sold 4.5 million shares at $10, a somewhat less ambitious debut than it had originally planned in January when it wanted to sell four million shares at $14-$16. The reduced offer is a sign of the challenging nature of the IPO market, but ChemoCentryx's assessment of its own worth was at least closer to the market’s assessment that Cempra which got its IPO away on 6 February at valuation that was less than two-thirds of that implied by its initial prospectus (scripintelligence.com, 7 February 2012).
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