Ambit Biosciences Raises $31 Million in Series C Financing

May 12, 2005

Ambit Biosciences announced the final close of its Series C financing, which raised a total of $31 million in private equity for the company. The initial close of the round in August 2004 raised $21 million, with an additional $10 million secured in the final close. The funding will be devoted to advancing the company's small molecule product candidates into clinical trials.

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