Date: Sep 14, 2014 Author: Ron Leuty Source: bizjournals (
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AvidBiotics Corp., the developer of proteins focused on cancer and food safety, is closing in on a $15 million funding round, according to a filing Thursday with the Securities and Exchange Commission.
The South San Francisco company, co-founded by former Genentech R&D executive David Martin, Bay Area biotech veteran Jim Knighton and UCLA professor Jeffery Miller, said it started selling the offering earlier this month and had raised more than $14.1 million.
The offering has 12 investors so far, the company said in the SEC filing.
AvidBiotics has zeroed in food safety, for example, developing proteins for DuPont's health and nutrition business to kill a strain of Escherichia coli, or E. coli, in meat processing plants.
Additionally, the company struck a research collaboration a year ago with Full Spectrum Genetics of South San Francisco that centers on AvidBiotics-developed proteins for immuno-oncology and antiviral targets.
