Autoimmune disease therapy spinout Cabaletta Bio's series B round brought its total to at least $88m allowed the university to pare back its shareholding.
Cabaletta Bio, a US-based autoimmune disease treatment developer spun out of University of Pennsylvania, raised $50m on Thursday in a series B round which allowed the university to sell some of its shares to the incoming investors. Healthcare-focused investment firm Deerfield Management took part in the round, investing alongside Redmile Group, Cormorant Capital, Adage Capital…
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