Millendo raises $62M series B, gains AZ asset

Millendo Therapeutics Inc. (Ann Arbor, Mich.) raised $62 in a series B round led by New Enterprise Associates. Other new investors Roche Venture Fund, Adams Street Partners, Altitude Life Science Ventures, Longwood Fund and Renaissance Venture Capital Fund joined existing investors Frazier Healthcare Partners, Osage University Partners, 5AM Ventures and the Regents of the University of Michigan.

The company, formerly Atterocor Inc., also in-licensed AZD4901 from AstraZeneca plc (LSE:AZN; NYSE:AZN). AZ will receive an undisclosed upfront payment and an equity stake in the biotech, and is eligible for milestones and royalties. ...