Agios Pharmaceuticals, the biopharmaceutical company, has raised $78 million in an oversubscribed series C round of venture capital funding. Three large public investment funds, Agios’ strategic partner Celgene Corp. and existing investors Arch Venture Partners, Flagship Ventures and Third Rock Ventures provided the funding.
Perry Karsen, chief operations officer of Celgene, has joined the Agios board of directors following the fundraising. The company will use the proceeds to boost its plans of advancing emerging portfolio of cancer metabolism therapeutics into the clinic and for expanding research and development into inborn errors of metabolism.
Click here for the release from Business Wire.