Tuesday, July 31, 2012

Drug developer CytomX expands Series B by $11 million, looks to make key hires

CytomX Therapeutics Inc. expanded its $41 million Series B financing round byadding $11 million from venture capital firmCanaan Partners. The South San Francisco company, which in September 2010 raised $30 million from Third Rock Ventures and Roche Venture Fund, is developing highly targeted antibodies, which it calls Probodies. Those potential cancer and inflammatory disease treatments unmask their antibody-drug payloads only when they enter the "microenvironment" of diseases.

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