Immune Design, a clinical-stage biotech, has closed a Series C financing totaling up to $49 million led by The Column Group and new investor Topspin Partners. The round includes an upfront investment of $32.5 million, with the right of the syndicate to invest another $16.5 million as the company’s programs progress. The fresh capital will be used primarily to advance its cancer immunotherapy product pipeline.
Founded in 2008, Immune Design focuses on developing immune-based therapies for cancer and other chronic conditions. The company has attracted a handful of investors since its formation, securing over $93 million in total funding (excluding the possible additional investment) and reaching a $73.4 million valuation in 2011 when it raised $32 million in Series B financing led by ProQuest Investments.