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IPierian spins off True North and allocates part of $30mm to Series A; Series A disclosed as $22mm
17 Jun 2014
True North Therapeutics Inc. has spun off from iPierian Inc. to pursue the latter’s monoclonal antibody program targeting the complement pathway. IPierian concurrently received $30mm in financing, most of which will go toward its Series C, with a smaller portion allocated to True North’s Series A round. SR One, Kleiner Perkins Caufield & Byers, and MPM Capital co-led the fundraising, with participation from FinTech Global Capital, Highland Capital Partners, Google Ventures, Mitsubishi UFJ Capital, Biogen Idec New Ventures, and ATEL Ventures. An SR One representative joined both iPierian and True North’s boards.
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