Ambit Raises $49.3 Million

Ambit Biosciences, a San Diego-based developer of small-molecule kinase inhibitors for the treatment of cancer, has raised $49.3 million in Series D funding. Apposite Capital led the round, and was joined by MedImmune Ventures, OrbiMed Advisors, Radius Ventures, NovaQuest and Horizon Technology Finance. Return backers included Perseus-Soros Biopharmaceutical Fund, Forward Ventures, Avalon Ventures, Roche Venture Fund, GIMV, Jov-CMDF and Genechem. Ambit has raised just over $100 million in total VC funding since 2000.

 

PRESS RELEASE 

Ambit Biosciences today announced that it has raised $49.3 million in a Series D equity financing from a strong, international syndicate of new and existing investors. The Series D funds will be used to support continued advancement of Ambit's growing product pipeline, which includes several drug candidates in clinical and pre-clinical development.

 

“Ambit has built a portfolio of promising kinase inhibitors by leveraging the strength and speed of our KinomeScan