Crown Bioscience Nabs $29M

Luke Timmerman5/5/11

Crown Bioscience, a Santa Clara, CA-based cancer drug developer, said it has raised $28.8 million in a Series C venture financing. The deal was led by OrbiMed Advisors Caduceus Asia Partners Fund, Argonaut Private Equity, the CID Group, IBT, and CDIB Capital Investment. Existing shareholders Qiming Venture Partners and CRCI also participated. Orbimed’s Nancy Chang said in a statement that Crown has “a strong leadership position in fully integrated cancer drug discovery service in China.”

Luke Timmerman is the National Biotech Editor of Xconomy. E-mail him at ltimmerman@xconomy.com Follow @