Ambit Bio Raises $15M

10/19/10

San Diego’s Ambit Biosciences, which is developing anti-cancer therapies by developing a wide array of small molecule drug compounds to block certain kinase-based reactions, has raised $15 million of a planned $15.9 million round of debt, rights and securities, according to a recent regulatory filing. The company, previously known as Aventa Biosciences, raised $49.3 million Series D round in 2007, according to VentureWire. Investors include Avalon Ventures, Forward Ventures, Genechem, GIMV, Horizon Technology Finance, Jov-CMDF, MedImmune Ventures, NovaQuest, OrbiMed Advisors, Perseus-Soros Biopharmaceutical Fund, Radius Ventures, and Roche Venture Fund.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788 Follow @

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