By Jennifer Chiou
New York, July 18 - Affymax, Inc. said it raised $60 million in series D financing led by Jafco Co. Ltd. and Bear Stearns Health Innoventures.
Other investors included Bessemer Venture Partners, Merlin BioMed Group, Diamond Capital Co., Apax Partners, MPM Capital and Sprout Group.
Based in Palo Alto, Calif., the privately held development-stage pharmaceutical company also said Hironori Hozoji, investment officer of Jafco Life Science Investment, has joined its board.
Montgomery & Co. LLC was the placement agent.
"As one of the largest venture financings in biotechnology this year, this investment represents an acknowledgement of our progress and underscores the potential of our lead product candidate, Hematide, which is currently being evaluated in Phase 2 clinical trials in Europe and the U.S.," said Arlene M. Morris, Affymax's president and chief executive officer, in a news release.
"The proceeds will give us the ability to aggressively move forward with our Phase 2 clinical program for Hematide in patients with chronic kidney disease and cancer, as well as develop our pipeline of promising peptide product candidates."
Hematide is being developed for the treatment of anemia in patients with chronic kidney disease and cancer.
| Issuer: | Affymax, Inc.
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| Issue: | Preferred stock
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| Amount: | $60 million
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| Round: | Series D
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| Investors: | Jafco Co. Ltd, Bear Stearns Health Innoventures (co-leads); Bessemer Venture Partners, Merlin BioMed Group, Diamond Capital Co., Apax Partners, MPM Capital, Sprout Group
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| Announcement date: | July 18
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