Friday, July 9, 2010

iPierian Nets $22M

South San Francisco-based iPierian, a firm developing stem cell-based biopharmaceuticals for the drug discovery market, said Thursday that it has raised $22M in a Series B equity funding. The round was led by Google Ventures, and also included Mitsubishi UFJ Capital, ATEL Ventures, Kleiner Perkins Caufield & Byers, Highland Capital Partners, MPM Capital and FinTech Global Capital. The firm said the round brings its total raised to $54M. As part of the investment, Google Ventures' partner Krishna Yeshwant joins the board. The firm also said it has named Michael C. Venuti, President and Chief Scientific Officer, as CEO and to its board; current CEO John P. Walker is stepping down from his position and board seat for personal reasons, but will remain employed by the firm as a senior advisor. More information »