Tempo Steps Up The Funding Pace
Tempo Pharmaceuticals, a Cambridge, MA-based biopharmaceutical startup that’s developing treaments for cancer, and autoimmune and inflammatory diseases based on nanoparticles that can release two different drugs at different rates, announced today that it has closed an $8.1 million Series B financing round. New investor Bessemer Venture Partners of Wellesley, MA, joined previous investors Polaris Venture Partners of Waltham, MA, New York-based Venrock, and Lux Capital, also of New York. Other participants include Alexandria Real Estate Equities and Venrock partner William H. Rastetter, former executive chairman of Biogen Idec. In December 2006, Tempo closed a $2 million seed round, and last May it secured $12.1 million in Series A financing.