Wednesday, January 7, 2009

Intradigm Closes $21.4M Round

Palo Alto-based Intradigm said today that it has closed on the final tranche of its Series B financing, bringing the round to a total of $21.4M. The firm said the latest investment was worth $2.9M, and was led by Astellas Venture Management, and also including existing investors Lilly Ventures. Intradigm said the funding will go towards its therapeutics platform. Intradigm is developing targeted, systemic RNA interference (RNAi) therapeutics, being applied to treating cancer. The funding also came with an executive swizzle: the firm's CEO, Mohammad Azab, M.D., is resigning as CEO, but will remain on the board; the firm's new CEO will be Phillip Haworth, Ph.D., who was the firm's VP of Business Development. More information »