Hedge fund Matrix Capital Management led a $100 million Series B round for Palleon Pharmaceuticals, a leader in the emerging field of glycobiology.
The funding will help the company advance its slate of glyco-immunology therapies for cancer and inflammatory diseases.
Co-founded in 1999 by pioneering venture capitalist Paul Ferri and David Goel, Matrix Capital Management had $5.9 billion in AUM as of March. The firm's diversified portfolio favors publicly traded companies, but it has shown strong interest in the life sciences sector recently, participating in a $135 million Series D round . . .
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