Cerulean Pharma has closed a $15 million Series D financing with participation from new investor, CVF, an affiliate of Henry Crown of Chicago, Illinois, as well as full participation from all other existing investors, including Polaris Venture Partners, Venrock, Lilly Ventures, Lux Capital, and Bessemer Venture Partners. In conjunction with the closing of the financing, Robert Paull, a co-founder and managing partner at Lux Capital, has joined Cerulean's board of directors as the director designated jointly by Lux Capital and CVF.

The financing proceeds will be used to complete a randomized phase II trial of CRLX101 in non-small cell lung cancer, and to support several investigator-sponsored CRLX101 phase II trials in additional indications at leading academic medical centers.