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Morphotek® Inc. has raised $40 million in Series D financing. The financing was led by Investor Growth Capital of New York and included participation of new investors MDS Capital and Hunt BioVentures as well as existing investors Forward Ventures, Morgenthaler Ventures, SR One, Flagship Ventures, Burrill & Co., CB Health Ventures, and Rock Maple Ventures. According to the firm, the funds will be used to advance the clinical development of their lead therapeutic antibodies:

• MORAb-003, which specifically targets the folate receptor alpha, a cell surface receptor over-expressed on ovarian, breast, colorectal, lung and renal tumors; currently on Phase clinical trials
• MORAb-009, currently in a Phase 1 trials at Johns Hopkins, Fox Chase Cancer Center and the National Cancer Institute in patients with pancreatic, mesothelioma, non small cell lung and ovarian cancer

See further details of the financing from Morphotek's press release.