LigoCyte rounds up $28M in third round

Bozeman, MT-based LigoCyte Pharmaceuticals has rounded up $28 million in its third round of venture capital. The money will be used for the clinical development of two lead vaccines targeting norovirus and influenza. Forward Ventures, JAFCO, and Novartis Venture Fund led the round with Fidelity Biosciences and MedImmune Ventures participating. The norovirus vaccine is currently finishing a Phase I trial. LigoCyte also plans to advance its influenza vaccine into human trials. The company uses virus-like particle and monoclonal antibody technology.

"We are especially pleased with the mix of institutional and strategic investors in this Series C round of financing," said LigoCyte CEO Donald Beeman. "These resources will fund LigoCyte through critical proof of principle of our later-stage development candidates."

- read the press release on the latest round

Related Article:
LigoCyte forges deal with Biogen Idec. Report

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