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Hydra Biosciences (developing ion channel therapeutics) raised $22mm through its Series D round, which was led by MedImmune Ventures and included returning investors Advanced Technology Ventures, Abingworth, Polaris Venture Partners, BioVentures Investors, Biogen Idec New Ventures, and Lilly Ventures. An executive from AstraZeneca, as designee for MedImmune and MedImmune Ventures, will take a seat on Hydra's board. The company will use the proceeds to advance its Transient Receptor Potential ion channel drug programs into clinical trials for pain, inflammation, and pulmonary diseases.
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