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Cerulean Pharma Closes $24 Million Venture Capital

Tuesday, November 16, 2010 5:58:00 AM PDT | VentureDeal Staff

   Cambridge, Massachusetts  --  Nanopharmaceutical company Cerulean Pharmaceuticals has secured $24 million in its third round of institutional venture capital financing.

Cerulean has created a nanobiology-based drug candidate aimed at non-small molecule lung cancers.

Lilly Ventures led the round, which included venture capital firms Polaris Venture Partners, Venrock, Lux Capital and Bessemer Venture Partners.

The company said it would use the financing proceeds to advance its CRLX101 development candidate into a randomized Phase II trial.

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