Principia Biopharma, a US-based biopharmaceutical company focused on autoimmune diseases and cancer, has received $12.5m in its second trache of a series A round from a consortium including drugs company GlaxoSmithKline’s (GSK) corporate venturing unit.
Alongside GSK’s SR One, which has partner Simeon George on Principia’s board, in the round were venture capital firms New Leaf Venture Partners, OrbiMed Advisors, Morgenthaler Ventures and Mission Bay Capital.
In February 2011, Principia completed a tiered A round totaling $36.3m and received the first tranche of $12m that same month.
With the second trache, Principia has expanded its senior management team by hiring Jens Oliver Funk as chief scientific officer.
Funk joined Principia from Merck Serono, the biotech unit of Germany-based drugs company Merck KgaA, where he was senior vice-president of research and development and global head of the therapeutic area oncology.
