Trellis Bioscience raises $10 million

Trellis Bioscience, a privately-held, California, USA-based biotechnology company, has raised $10.0 million in a series B referred stock venture capital financing. New investor Novartis Bioventures led the round, with the participation of additional new investors Pac-Link Bio Venture Investment Corp and Sagamore Bioventures. Previous investors, Easton-Hunt Capital Partners, LP and Morgenthaler Partners VII LP also participated in the financing. The proceeds will be used to develop Trellis' own, as well as its corporate partnering product candidates, and for general purposes.

Brian Cunningham, chief executive, said: "this financing will help to transform Trellis from a technology platform company to a product-oriented biotechnology firm that generates its own therapeutic candidates in the areas of infectious disease and oncology. At the same time, we will continue to partner with other companies to commercially validate the advantages of Trellis CellSpot technology to rapidly identify important therapeutic antibodies, as well as high-producing cell lines that can dramatically improve the productivity of antibody and other protein manufacturing processes."