ChemoCentryx completes Series C financing

ChemoCentryx announced it completed $17.7 million in Series C financing.

Randall C Willis
MOUNTAIN VIEW, Calif.—On the same day that it announced the signing of a major research col­laboration with GSK (see story), ChemoCentryx announced it completed $17.7 million in Series C financing. When added to the $63.5 million in upfront fund­ing it will receive from GSK and other financing vehicles, ChemoCentryx has achieved about $90 million in new mon­ies in 2006.
 
"Historically, we have suc­cessfully pursued a mix of venture capital financing and non-dilutive funding," said Dr. Thomas J. Schall, company president and CEO, in a pre­pared statement. "The combi­nation of our Series C financ­ing and the upfront payments received as part of our strategic alliance with GSK reinforces this long-term strategy. We are now extremely well-positioned to avail ourselves of market opportunities of our choosing, as we continue to build value in ChemoCentryx and our pipe­line of chemokine-based medicines."
 
The Series C investors include Jennison Associates, HBM BioVentures, Orbimed Advisors, Techne Corporation, Alta Partners and GIMV.

Randall C Willis

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