Monday, November 16, 2009

OVP Leads $30M Investment in Stem Cell Firm

OVP Venture Partners has led a $30M investment in a San Diego, California firm focused on stem cell therapy, according to Fate Therapeutics. Fate said that OVP Venture Partners led the firm's latest, Series B funding round, and will be adding Carl Weissman to its board. Fate Therpauetics is developing stem cell treatments, including treatments for leukemia and lymphona. Participating in the funding with OVP was Astellas Venture Management, Genzyme Ventures, and an un-named corporate investor, along with prior investors ARCH Venture Partners, Polaris Venture Partners and Venrock.