ChemoCentryx completes Series C financing

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."