ARTICLE | Finance

Blend(ing) a platform

How Blend used cash to create Pentarin platform for delivery of cytotoxic agents

January 12, 2015 8:00 AM UTC

A fresh capital infusion has provided Blend Therapeutics Inc. the opportunity to develop a platform to optimize the delivery of its cytotoxic agents to cancer cells - a challenge identified by investors as the main issue facing the biotech two years ago.

On Jan. 7, Blend raised $21 million through an undisclosed combination of equity and debt. The equity portion was an extension of a series B round that initially raised $16 million in December 2012. Existing investors Flagship Ventures, New Enterprise Associates (NEA) and NanoDimension were joined by new investor Eminent Venture Capital. An undisclosed institutional investor provided the debt financing. ...