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Print Edition StoriesWednesday, July 8, 2009
IPierian merges with iZumi Bio, takes stem cell R&D to Calif.
By Mass High Tech staff
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Boston-bred pharmaceutical startup iPierian Inc. has merged with San Francisco-based iZumi Bio Inc., a stem cell and drug discovery firm. The newly formed company, to be named iPierian Inc., has received $11.5 million in funding, led by Boston venture capital firm and iPierian founding investor MPM Capital.
The new company will be led by John Walker, former iZumi CEO; with Berta Strulovici as chief technical officer; and Dushyant Pathak, who will lead business development. Corey Goodman, former Pfizer president of biotherapeutics and bioinnovation and iZumi board member, will assume to role of chairman of the board of directors for iPierian. It will be based in San Francisco.
IPierian scientific founders and Harvard University faculty members George Daley, Douglas Melton and Lee Rubin will participate in the scientific direction of the new company, with Daley taking to role of co-chairman of the iPierian scientific advisory board.
MPM Capital’s backing will add to the $20 million iPierian received originally from Kleiner Perkins Caufield & Byers and Lexington-based Highland Capital Partners, as well as the $1.5 million investment in the current round by FinTech Capital Partners. MPM managing director Ashley Dombkowski, also the co-founder of iPierian, will sit on the iPierian board of directors.
The newly formed company will continue to work with Gladstone Institutes and Kyoto University’s Center for iPS Cell Research and Application.
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