BioCentury
ARTICLE | Finance

Ebb & Flow

January 10, 2005 8:00 AM UTC

Last week saw two series D rounds go in opposite directions. Cancer play Nereus opted for a two-part financing, and maintains that having milestone-contingent money is important for discipline. On the flip side, drug delivery play Alexza says that having all the cash up front will let it focus on its business.

Nereus' round gives a glimpse at the types of milestones venture investors may require before they double down. The preclinical company raised $24.3 million in a first closing and hopes to tack on an additional $18.3 million. To do so, it will need to get two active INDs on file. ...