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.
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