Sopherion Therapeutics, LLC announced a $55 million Series C financing on 2/19/09. The financing was led by Zoticon Bioventures, a global drug development and healthcare investment firm. The company will use the funding to complete the pivotal Phase III clinical development program for its lead product candidate, Myocet™. Myocet™ is a liposomal formulation of doxorubicin designed to reduce the risk of cardiotoxicity while preserving antitumor efficacy. In January 2008, Zoticon Bioventures in-licensed Myocet™ and provided funding of $20 million to Sopherion and subsequently lead an additional $35 million raise during 2008. Proceeds are to fund Sopherion and complete its global, registrational trial of Myocet in combination with trastuzumab and paclitaxel vs. trastuzumab and paclitaxel for first-line therapy of patients with metastatic breast cancer. Additional investors in the $35MM round include TL Ventures, New Leaf Venture Partners/Sprout Group, ProQuest Investments, Canaan Partners, Devon Park Bioventures, Commerce Bank and NewSpring Capital.

In September of 2004, Sopherion Therapeutics, Inc. announced the completion of a $47 million Series B venture funding. The financing was led by TL Ventures and included the Sprout Group, ProQuest, Canaan Partners, HealthCap, NewSpring Ventures, L.P., Commerce Health Ventures, and Seaflower Ventures.

Sopherion Therapeutics, Inc. has been operating since 2001, and was initially funded through convertible bridge loans and subsequently through a $26M series A round of financing which was led by TL Ventures. HealthCap, ProQuest Investments, Johnson & Johnson Development Corporation, Intersouth Partners, Seaflower Ventures, and Connecticut Innovations Incorporated also participated.