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Synageva BioPharma Nabs $30M

Synageva BioPharma, a Waltham, MA-based biotech firm with research and manufacturing operations in Athens, GA, says that it has closed a $30 million private equity financing and expects to raise more money in the weeks ahead. Baker Brothers Investments, a heathcare investment firm, led the financing, which included contributions from investment funds Tullis Dickerson and Four Partners. Synageva says that it is developing novel protein drugs and follow-on biologics, which are intended to be copies of existing biotech drugs.

Ryan McBride is Xconomy's correspondent. You can reach him at rmcbride@xconomy.com, or follow him on Twitter at http://twitter.com/Ryan_McBride.

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