Molecular Templates Raises $12M

Georgetown, Texas-based Molecular Templates said Monday that it has now raised $12M in a Series C financing. The company, which is developing biopharmaceuticals, said that the funding comes via an expansion of the Series C worth $3.5M, from AJU IB Investment. That new funding comes on top of earlier Series C funds from Excel Ventures and Sante Ventures. AJU IB's Timothy Sullivan joins the company's board as part of the funding. Molecular Templates is targeting cancer with its technology. More information »