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TolerRx raises $31M

March 30, 2005 2:29 AM UTC

TolerRx ( Cambridge, Mass.) raised $31 million in a series D round led by Bear Stearns Health Innoventures. Other investors included NIF Ventures; Skyline Ventures; HealthCare Ventures; Rho Ventures; Vertex Management; Sprout Group; Artal Services; Lehman Brothers Healthcare Fund; Yasuda Enterprise; Mizuho Capital; and Aozora Investment. TolerRx will use the funds to advance its TRX4 anti-CD3 antibody into Phase III testing to treat Type I diabetes, and its TRX1 anti-CD4 antibody into Phase II to treat cutaneous lupus. TRX1 is partnered with Genentech (DNA).

Also, TolerRx hired Thomas Shea as CFO. Previously, Shea was CFO of Cubist (CBST). The company also named Wayne Hockmeyer, a director, as chairman. He replaces Christopher Mirabelli, who stepped down from the board. ...