iPierian Nabs $22M, Names New CEO

7/8/10

iPierian, the South San Francisco-based developer of stem cell technology for drug discovery, said today it has raised $22 million in a Series B venture financing. Google Ventures led the round, which included Mitsubishi UFJ Capital, ATEL Ventures, Kleiner Perkins Caufield & Byers, Highland Capital Partners, MPM Capital, and FinTech Global Capital. In connection with the financing, Michael Venuti is being promoted from president and chief scientific officer to CEO, replacing John Walker, who will remain a senior advisor. I profiled iPierian and its strategy to become a drug developer based on stem cell technology last month.

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  • jon

    Yup…we don’t want to cure anyone with ONLY stem cells…we need to annuitize their cure with a drug treatment so we keep them coming for more…ka..ching!