Alder raises $38 million in series D

Alder Biopharmaceuticals Inc. (Bothell, Wash.) raised $38 million in a series D round led by new investor Novo Ventures. Existing investors Sevin Rosen Funds; Ventures West; WRF Capital; H.I.G. Ventures; Delphi Ventures; and TPG Biotech also participated. Alder's ALD518 ( BMS-945429) is in Phase II testing to treat rheumatoid arthritis (RA) and advanced non-small cell lung cancer (NSCLC)-related fatigue and cachexia. Partner Bristol-Myers Squibb Co. (NYSE:BMY) has exclusive, worldwide rights to the humanized mAb against IL-6 from Alder for non-cancer indications under a 2009 deal (see BioCentury Extra, Nov. 10, 2009). ...