New York, Oct. 10 - GlycoFi said it raised $11 million from an oversubscribed series C financing.
The latest round was an extension of the $10 million series C that closed in December 2003.
New investors International Biotechnology Trust, Peninsula Equity Partners and Eli Lilly & Co. were among the participants, which also included existing investors Polaris Venture Partners, SV Life Sciences, Boston Millenia Partners, Fletcher Spaght Ventures, Village Ventures and Borealis Ventures.
Proceeds will be used to continue commercialization of GlycoFi's protein optimization technology.
John Fletcher of Fletcher Spaght Ventures and Pat Fortune of Boston Millennia Partners will join GlycoFi's board.
GlycoFi is a Lebanon, N.H., biotechnology company focused on protein optimization technology.
| Issuer: | GlycoFi
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| Issue: | Series C (add on)
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| Amount: | $11 million
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| Investors: | International Biotechnology Trust, Peninsula Equity Partners, Eli Lilly & Co., Polaris Venture Partners, SV Life Sciences, Boston Millenia Partners, Fletcher Spaght Ventures, Village Ventures, Borealis Ventures
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| Announcement date: | Oct. 10
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