Iconic's series C brings in $40M

Iconic Therapeutics Inc. (Atlanta, Ga.) raised $40 million in a series C round. New investors HBM Healthcare Investments, Cormorant Asset Management and Osage University Partners joined existing investors MPM Capital, H.I.G. Capital and Lundbeckfond Ventures.

Iconic expects results in 2H16 from a Phase IIa trial of lead candidate ICON-1 (formerly hI-con1) to treat wet age-related macular degeneration (AMD), and plans to begin a Phase I trial this year of the therapy to treat ocular melanoma. CEO William Greene told BioCentury that the company expects the funds to last into 2017. ...