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Alder Biopharmaceuticals Secures $40 Million Funding

Monday, January 14, 2008 5:37:00 AM PDT | VentureDeal Staff

BOTHELL, WA -- Alder Biopharmaceuticals, Inc. announced that it has received $40 million in series C financing from a syndicate of venture capital investors.

Alder identifies, develops and manufactures antibody therapeutics focused on treating human autoimmune and inflammatory diseases.

Investors in the round were lead investors Delphi Ventures and TPG Biotech, and included Sevin Rosen Funds, Ventures West, H.I.G. Ventures and WRF Capital.

The company said it would use the funding proceeds to advance its lead candidate programs through the trials process and to continue development of its proprietary Mab Xpress yeast antibody production technology.

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