Venture capital firm MPM Capital leads $20m series B round for Aires Pharmaceuticals as Novartis takes licensing option.
Aires Pharmaceuticals, a US-based developer of a lung treatment, has raised $20m in its series B round and signed an option for Switzerland-based Novartis to acquire the company for up to $250m.
Venture capital firm MPM Capital led the round as a new investor through its MPM Bio IV NVS Strategic Fund and was joined by VC peer ProQuest Investments. The Strategic Fund is a joint venture between MPM and Novartis’s pharmaceutical business unit set up in 2007 to…
