BioCentury
ARTICLE | Financial News

ABLS spinout raises $15M in series A round

August 22, 2016 7:00 AM UTC

Allied Minds plc (LSE:ALM) said fibrosis and autoimmune start-up ABLS II LLC raised $15 million in a series A round. ABLS II is among three companies spun out from joint venture Allied-Bristol Life Sciences LLC, which Allied Minds formed in 2014 with Bristol-Myers Squibb Co. (NYSE:BMY), and is the first to raise a series A round.

ABLS Capital, an Allied Minds subsidiary launched in April to invest in programs from the JV, led the round with a $12 million investment. BMS invested $3 million (see BioCentury Extra, April 26). ...