Alder completes $40M financing

Alder Biopharmaceuticals, an emerging US antibody therapeutics company, has announced the closing of its series C financing. Delphi Ventures and TPG Biotech led the $40.0 million round. Also participating were existing investors Sevin Rosen Funds, Ventures West, HIG Ventures and WRF Capital. Deepa Pakianathan, general partner at Delphi Ventures, and Heather Preston, managing director at TPG Biotech, will be joining Alder's board of directors. Alder plans to use the financing to advance its lead programs through human clinical trials and to continue to advance its proprietary Mab Xpress yeast antibody production technology. "This financing is a testament to the progress we have made in developing our proprietary antibody technologies and therapeutic products," said Randall Schatzman, chief executive and an Alder co-founder. "This financing will allow Alder to rapidly advance our lead antibody therapeutic ALD518 through multiple proof-of-concept trials, broaden our product pipeline, and continue to build on our proprietary antibody discovery and manufacturing technologies," he added.