Agios Pharma Secures $78M VC Funding

Massachusetts-based biopharmaceutical company Agios Pharmaceuticals has raised $78 million in an oversubscribed series C financing.

Massachusetts-based biopharmaceutical company Agios Pharmaceuticals has raised $78 million in an oversubscribed series C financing. The firm intends to use the proceeds to enhance the company’s fast-emerging portfolio of cancer metabolism therapeutics into the clinic and to increase research in inborn errors of metabolism.

A number of new, undisclosed investors, including three public investment funds, joined Agios’ strategic partner Celgene and current investors Arch Venture Partners, Flagship Ventures and Third Rock Ventures in the fundraising round. Additionally, Celgene COO Perry Karsen has joined the Agios board of directors.

Click here for the release from Business Wire.