Avidia Raises $28.5 Million in Series B Financing
Avidia announced the closing of a $28.5 million Series
B Preferred Stock financing, led by Morgenthaler Ventures. Other new investors
include TPG Ventures, MedImmune Ventures and Amgen Ventures. The existing Series
A shareholders, Alloy Ventures, Maxygen, Inc., Willem Stemmer and several individuals,
also invested. As part of this financing, Dr. Ralph Christoffersen, a general
partner at Morgenthaler Ventures and Franklin H. Top, Jr., M.D., a senior vice
president at MedImmune Ventures will join the Avidia board of directors.