Helsinn goes On Target in $44m round

Mar 16, 2018 •

Purdue spinout On Target Laboratories has closed a series B round at $44m after an $11.1m extension featuring Helsinn.

On Target Laboratories, a US-based cancer detection technology developer spun out from Purdue University, closed a $44m series B round on Wednesday following an $11.1m extension from investors including pharmaceutical firm Helsinn.

Investment firm HIG BioHealth Partners and venture capital firm Elevate Ventures joined Helsinn in the extension.

Johnson & Johnson Innovation – JJDC, the corporate venturing subsidiary of healthcare group Johnson & Johnson, led the initial $32.5m tranche in September 2017, which also featured unnamed existing backers.

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