Alan Lewis, executive president of Ambit, said: "Our existing investors have reaffirmed their confidence in the company, providing us with sufficient funding [$30m] to pursue our strategy and enabling us to withdraw our plans for an initial public offering."
Ambit Biosciences, an anti-cancer drugs developer formerly known as Aventa Biosciences, has extended its series D round by $30m after halting its plans to float in the US.
Venture capital firm Apposite Capital led the D-2 round, which included peers Perseus-Soros Biopharmaceutical Fund, OrbiMed Advisors, Forward Ventures, GIMV, GrowthWorks, Radius Ventures, Horizon Technology Finance and NovaQuest (which spun off from drugs group Quintiles in November) and corporate venturing backing firm Genechem, Roche Venture Fund and MedImmune Ventures.
Alan Lewis, executive…
