San Diego-based Allele Biotechnology & Pharmaceuticals Inc. has raised $11 million in equity funding, according to regulatory filings.
In an Oct. 26 filing with the U.S. Securities and Exchange Commission, the company said a total of four investors took part in the round.
Allele, founded in 1999, has largely subsisted off grants and sales of laboratory reagents for the past 15 years. Then in 2014, it raised $7 million in its first institutional round of funding from Yuan Capital and Yifang Ventures (an early stage venture firm led by Eric Xu, who co-founded Baidu, the Chinese-language search engine).
Allele Biotechnology & Pharmaceuticals is a private drug discovery firm using proprietary stem cells for potential cell therapy programs, cell-based assays, and customer stem cell banking, among other programs.
