Source: BizJournals
Biogen Idec and GlaxoSmithKline are among the companies backing a iPerian Inc., a San Francisco-based company using stem cells for drug discovery.
Biogen Idec New Ventures, part of Weston, Mass.-based Biogen (Nasdaq: BIIB), and SR One, the independent venture are of U.K.-based GSK (NYSE: GSK), were among the investors in iPerian’s $28 million series B equity financing round. Other investors include Kleiner Perkins Caufield & Byers, Highland Capital Partners, MPM Capital, Google Ventures, FinTech Global Capital, Mitsubishi UFJ Capital and ATEL Ventures.
iPerian is working to use patient-derived induced pluripotent, or iPSC, stem cells for drug delivery.
“iPierian has industrialized the new science of iPSC technology for drug discovery, and their platform has the potential to transform pharmaceutical discovery and development across a broad range of therapeutic areas,” said Rajeev Dadoo, a partner at SR One who will participate as an observer on the iPierian Board of Directors. “The progress of their lead programs has demonstrated the promise of this approach to identify novel, disease-modifying therapeutics, and we look forward to helping iPierian grow and succeed as the leader in the application of iPSC technology.”
Biogen employs about 850 people at a manufacturing plant in Research Triangle Park, while GSK (NYSE: GSK) maintains its North American headquarters in RTP and employs about 5,000 across the Triangle.
Reporter e-mail: jgallagher@bizjournals.com
Read more: Biogen, Glaxo pour millions into S.F. firm iPerian – Triangle Business Journal
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