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Ambit Biosciences gets $25mm in first tranche of Series E financing
08 Nov 2012
Ambit Biosciences Inc. (developing small-molecule kinase inhibitors for cancer) raised $25mm through the first tranche of its $50mm Series E round. All existing investors participated, including OrbiMed Advisors (which led and takes a seat on the company's board), Aisling Capital, Apposite Healthcare, Roche Venture Fund, GrowthWorks, MedImmune Ventures, Forward Ventures, GIMV, and Radius Ventures. Proceeds will go towards the company's lead candidate quizartinib (AC220), an FMS-like tyrosine kinase-3 inhibitor that is in Phase II trials (with partner Astellas Pharma) for relapsed or refractory acute myeloid leukemia and treatment-naive AML.
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