Threshold raises $35M to treat tumors after financial turmoil
Threshold Pharmaceuticals, developer of treatments for tumors, has fallen on tough times after going public in 2005. But it just brought in $35 million in a sale of 18.3 million shares of common stock and warrants for 7.3 million more to Great Point Partners — a buyout firm — and investment firms Federated Kaufmann Fund and Frazier Healthcare Ventures.
The Redwood City, Calif., company’s past investors include Sutter Hill Ventures, HealthCare Ventures, Alta Partners and Three Arch Partners — all of which were still invested this spring. Before its IPO, Threshold brought in $50 million from Morgenthaler Partners, Pequot Capital Management, ProQuest Investments, and Sofinnova Ventures in addition to Three Arch and Sutter Hill.
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About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.