Foley Hoag Represents Blend Therapeutics in $16M Series B Financing Round and Hiring of Blue-Chip CEO
January 11, 2013
Blend Therapeutics, Inc., a biopharmaceutical company discovering new classes of drugs to treat cancer and other diseases, recently closed a $16 million Series B financing and appointed Mark Iwicki, the former head of Sunovion Pharmaceuticals, its new president and CEO.
Founded by Omid Farokhzad of Brigham and Women’s Hospital (BWH) and Harvard Medical School (HMS), and Robert S. Langer, Jr. and Stephen J. Lippard of the Massachusetts Institute of Technology (MIT), Blend brings together a new-molecule drug discovery engine and its patented nanoparticle engineering platform to develop innovative drugs. The company’s initial focus is on anti-cancer therapies that uniquely target tumors with the potential for improved potency, reduced toxicities and lower resistance.
The Foley Hoag team representing Blend in the financing and CEO hiring was led by Jeffrey Quillen and Michelle Limaj. Blend was incubated in Foley Hoag’s Emerging Enterprise Center before moving into its office and lab space in Watertown in January 2012.
NanoDimension led the Series B financing, with participation from other existing investors Flagship Ventures and New Enterprise Associates.
Blend Therapeutics plans to use the proceeds from the financing to advance the company’s lead products toward investigational new drug applications with the U.S. Food and Drug Administration and to expand the company’s product-development and business-development teams.
About Foley Hoag LLP
Foley Hoag provides innovative, strategic legal services to public, private and government clients across the globe. We have premier capabilities in the life sciences, healthcare, technology, energy, professional services and private funds fields, and in cross-border disputes. The diverse backgrounds, perspectives and experiences of our lawyers and staff contribute to the exceptional service we deliver to clients ranging from startups to multinational companies to sovereign states. For more information, visit www.foleyhoag.com or follow @FoleyHoag on Twitter.