Wednesday, October 8, 2014

Avidity NanoMedicines Raises $6M

La Jolla-based Avidity NanoMedicines, which is developing nanoparticle technology aimed at the drug development area, has raised $6M in a convertible note financing. The company said the round was co-led by Fidelity Biosciences and TPG Biotech, and also included Brace Pharmaceuticals, Partner Fund Management LP and Alethea Capital Management. TPG's Ben Auspitz and Eran Nadav both join the company's board as observors. Avidity said the new funds go towards advancing new cancer therapies using its technology. More information »