Merck-backed biotechnology company raises third $10m tranche of $30m funding.
Aviir, a US-based heart disease monitoring company backed by local drugs maker Merck’s corporate venturing unit, has closed on a third tranche of $10m, rounding out a total financing of $30m initiated in December 2011. Merck Global Health Innovation Fund led the round, and was joined by Partners & Partners. Current investors Bay City Capital, Aberdare Ventures, and New Leaf Venture Partners also participated. The financing was again triggered by the company’s achievement of revenue milestones.
The proceeds will be…
