By Lisa Kerner
Charlotte, N.C., Aug. 23 - Ablynx said it successfully closed its series C financing round, raising about $50 million.
The company will use the proceeds to fund operations through mid-2008 and to develop its product pipeline using proprietary Nanobody technology.
New investor KBC of Belgium led the international syndicate of investors, joined by additional new investor SR One, the venture capital arm of GlaxoSmithKline.
All existing financial investors participated in the round, including Abingworth Management, Alta Partners, Biotech Fund Flanders, Gilde Healthcare Partners, GIMV and Sofinnova Partners. Additional participation was provided by VIB.
Since its inception in 2002, Ablynx said it has raised total capital of about $87.5 million.
Ablynx is a Ghent, Belgium, biopharmaceutical company.
| Issuer: | Ablynx
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| Issue: | Series C financing
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| Amount: | $50 million
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| Investors: | KBC (lead), SR One, Abingworth Management, Alta Partners, Biotech Fund Flanders, Gilde Healthcare Partners, GIMV, Sofinnova Partners and VIB
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| Announcement date: | Aug. 23
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