Tuesday, March 18, 2008

LigoCyte Pharmaceuticals Raises $28M

Bozeman, Montana-based LigoCyte Pharmaceuticals said Tuesday that the company has raised $28M in a Series C funding round for the firm's vaccine development. LigoCyte, which is developing vaccine candidates against norovirus and influenza, said the funding was led by Forward Ventures, JAFCO, and Novartis Venture Fund. Other investors included Fidelity Biosciences, MedImmune Ventures, Athenian Venture partners, and MC Life Sciences Ventures. LigoCyte said that Seaview Securities acted as a placement agent for the transaction. LigoCyte's is focused on vaccines for norovirus--which causes gastroenteritis and is best known for its role in infecting cruise ships--and an influenza vaccine. More information »