Monday, December 12, 2011
Groove Biopharma has raised $6 million in a Series B financing. Participating in the financing was Alexandria Venture Investments, ARCH Venture Partners, OVP Venture Partners, Versant Ventures, and WRF Capital. Proceeds from the financing will be used to bring forward development of Groove’s proprietary MGB-based miRNA delivery platform. The company has also promoted David L. McElligott, Ph.D. to chief scientific officer.