Xconomy Wisconsin —
Invenra, a Madison, WI-based startup that develops therapeutic antibodies for pharmaceutical companies and other clients, has raised more than $7.1 million from investors, according to a regulatory filing.
Twenty-three investors participated in the equity funding round, according to the filing, which was made public earlier this week. Founded in 2011, Invenra has now raised more than $21 million in equity and debt financing, according to SEC documents.
Invenra plans to use some of the new money for product development, and to add to its 26-person team, says co-founder and CEO Roland Green. Invenra plans to hire bench scientists, project managers, and people with preclinical development experience, he says. The startup also plans to expand its laboratory and office space, Green says.