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.

Glaucoma drug developer Altheos adds $12.5M to Series A round

Altheos Inc. raised an additional $12.5 million — pushing its Series A round to a total of $32.5 million — as the South San Francisco company enters a mid-stage study of a glaucoma drug.

Canaan Partners raises $600M for tech, healthcare ventures

Canaan Partners raised a $600 million fund, the Menlo Park-based venture capital firm said Monday, targeting technology and healthcare companies.
About two-thirds of the fund will be geared to digital media, consumer Internet, enterprise, mobile and communications companies in the United States, India and Israel. The remaining third will be split between biopharma, medical device and healthcare infrastructure companies, with about half of the healthcare investments tied to drug developers.

Dermira raises $42M for dermatology work, buys Valocor

Dermira Inc. said Thursday it has raised $42 million in Series A funding.
The Redwood City-based company plans to use the funds for acquisition, development and commercializing dermatology-related therapeutics.
Its investors include Bay City Capital LLC, New Enterprise Associates and Canaan Partners.

Insulin patch developer Calibra raises $8.1M, including $1M in canceled debt

Calibra Medical Inc., a developer of a needle-free insulin patch-pen, raised $8.1 million in financing.
The investors were not disclosed in a Securities and Exchange Commission filing Thursday, but the company said the total included more than $1 million of canceled debt.
The Redwood City company, which had been known as Seattle Medical Technologies and moved to the Bay Area in 2007, said in the SEC filing that it is seeking $21.9 million more.