GenPharm International Inc. has completed a $12 millionmezzanine financing, an amount that "will probably last us twoto three years," company President and Chief ExecutiveJonathan MacQuitty told BioWorld.
MacQuitty said he could not predict if the next round offinancing for the company, which uses transgenic animals todevelop new therapeutics, would be an initial public offering.
This second round of financing for the Mountain View, Calif.,company was completed over two months, led by NewEnterprise Associates. Additional new investors includedPaineWebber Development Corp., Sed Ventures, GlynnVentures, and Ronald Family Trust A (a Getty family trust).
All nine of the company's previous venture investorsparticipated in the financing, providing half of the new funds.The earlier investors included Institutional Venture Partners;Kleiner Perkins, Caufield & Byers; Fairfield Ventures; andAbingworth Management.
The company raised $10.7 million in previous financing since1988. -- RF
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