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Print Edition StoriesThursday, October 1, 2009
Adimab grabs Series D funds, led by Google Ventures
By Mass High Tech staff
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Adimab Inc., a Lebanon, N.H.-based antibody discovery startup, closed on a Series D financing led by Google Ventures. The investment also received support from return backers Polaris Ventures, SV Life Sciences, OrbiMed Advisors and Borealis Ventures.
As a result of the investment, Google Venture managing partner Bill Maris will sit on Adimab’s board of directors.
The company received “multiple investment proposals,” according to a statement by Adimab chief operating officer Errik Anderson, who said that Google Ventures saw the most value that Adimab had to offer.
The amount of the Series D financing was not disclosed. The company last raised an undisclosed amount of Series C funding in November, though CEO and founder Tillman Gerngross said at the time that the valuation was twice that of its last round. Gerngross launched in July 2007 with $6.2 million in equity financing, with backing from Polaris Ventures and SV Life Sciences.
Gerngross, an engineering professor at Dartmouth College, previously founded the biotech company GlycoFi Inc., which he sold a couple of years ago to Merck & Co. Inc. for over $400 million. GlycoFi was also backed by Polaris and SV Life Sciences.
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