Sopherion raises $47 million

Cancer company Sopherion (New Haven, Conn.) raised $47 million in a series B round led by TL Ventures. Other investors included the Sprout Group; ProQuest; Canaan Partners; HealthCap; NewSpring Ventures; Commerce Health Ventures; and Seaflower Ventures.

In connection with the offering, Sopherion licensed from Zeneus (Oxford, U.K.) exclusive North American development and commercialization rights to Myocet liposomal doxorubicin. The product is approved in Europe and Canada as a first-line therapy in combination with cyclophosphamide to treat metastatic breast cancer. ...