By Kimberly N. Alleyne
Stroudsburg, Pa., Sept. 7 - OncoMed Pharmaceuticals announced Wednesday the completion of a series A preferred stock financing totaling $13.9 million.
OncoMed investors include venture capital firms Latterell Venture Partners, US Venture Partners, Morgenthaler Ventures and The Vertical Group.
"OncoMed provides a unique, transformational opportunity for the treatment of cancers that also represents a fresh and innovative strategy for drug development and targeting," said Jonathan D. Root, general partner with U.S. Venture Partners.
Concurrent with the announcement of funds raised, OncoMed announced the formation of the company's board of directors. James N. Woody was appointed founding chairman of the board. In addition, Laurence A. Lasky, general partner of Latterell Venture Partners, Jonathan D. Root, general partner at US Venture Partners, James Broderick, general partner of Morgenthaler Ventures, and Jack Lasersohn of The Vertical Group will serve as board members.
OncoMed was founded in August 2004 by Michael F. Clarke and Max Wicha of the University of Michigan who have led the discovery and characterization of cancer stem cells.
| Issuer: | OncoMed Pharmaceuticals
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| Issue: | Preferred stock
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| Round: | A
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| Amount: | $13.9 million
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| Investors: | Latterell Venture Partners, US Venture Partners, Morgenthaler Ventures and The Vertical Group
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| Announcement date: | Sept. 7
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