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Iconic Therapeutics Secures Series C Funds

Tuesday, January 12, 2016 5:18:00 AM PDT | VentureDeal
   South San Francisco, California  --  Biotechnology company Iconic Therapeutics has received $40 million in its third round of institutional venture capital investment.

Iconic is developing a "novel immune-conjugate fusion protein that works with the body's immune system to address the root causes of acute vision loss in AMD."

Investors in the round included HBM, Cormorant Asset Management, Osage Partners, MPM Capital, H.I.G. Capital and Lundbeckfond Ventures.

The company said it would use the funding proceeds to advanced development of its lead molecule ICON-1.

It will also use the proceeds to hire additional key executives and expand the potential applications for its tissue factor-based approach.

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