VC, Biotech, deals

BioVex Completes $35 Million Financing

Rebecca Zacks 11/16/07

BioVex announced the completion of a Series E financing round (led by Triathlon Medical Ventures) and a venture debt transaction (with Oxford Finance Corporation and Silicon Valley Bank) that combined provide the Woburn, MA-based biotech with a total of $35 million. The company plans to use the funds to move its lead drug candidate, an anti-cancer treament, into a Phase 3 clinical trials and to take a genital-herpes vaccine into Phase 2 tests. BioVex previously closed $22 million of the Series E round, making it one of the top 10 New England venture deals of the second quarter.