Taris raises $25M series B

Drug delivery company Taris Biomedical LLC (Lexington, Mass.) raised $25 million in a series B round Thursday led by Yonghua Capital. New investors Bristol-Myers Squibb Co. (NYSE:BMY) and Norma Investments also participated, as did existing investors Flagship Pioneering, Polaris Partners and RA Capital.

On Wednesday, the company said it partnered with BMS to conduct a Phase Ib trial of Taris' lead program TAR-200 in combination with anti-PD-1 mAb Opdivo nivolumab to treat muscle invasive bladder cancer in patients who are scheduled for radical cystectomy. The companies did not disclose financial terms...