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ARTICLE | Financial News

With Ex-Receptos execs at helm, Gossamer raises another large round

July 27, 2018 6:11 PM UTC

Gossamer Bio Inc. (San Diego, Calif.) raised $230 million on July 23 in an untranched series B round led by new investor Hillhouse Capital, bringing the biotech's total funding to $330 million since its January launch. Also participating in the current round were new investors Abu Dhabi Investment Authority, Invus, The Baupost Group and Polaris Partners, plus existing investors Arch Venture Partners and Omega Funds.

Gossamer also said July 23 that President and COO Sheila Gujrathi will become CEO, while current CEO Faheem Hasnain will become executive chairman. Both co-founders are former executives at inflammation and immunology company Receptos Inc., which Celgene Corp. (NASDAQ:CELG) acquired for $7.2 billion in 2015. Hasnain was Receptos' president and CEO, while Gujrathi was its CMO (see "Many Happy Returns")...

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Gossamer Bio Inc.