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Biodesy raises $20M via series C financing, appoints CEO

Biodesy Inc. raised $20 million in a series C financing as it further expands into the biotherapeutics discovery and development market.

The financing round was led by Alexandria Venture Investments LLC and participated by existing investors 5AM Ventures, Pfizer Inc.'s Pfizer Ventures and Roche Holding AG's Roche Venture Fund.

The company will use the proceeds to expand its scientific and commercial operations team, discover and develop novel therapeutics and conduct strategic partnerships to leverage its core technology.

In other news, the company named Ariel Notcovich as CEO. He previously served as the company's vice president of product development.

Meanwhile, Mitchell Mutz, Roche Venture Fund investment director, and Mark Gallop, executive-in-residence at 5AM Ventures, joined the company's board as part of the investment round.

South San Francisco, Calif.-based Biodesy is a protein analysis company that develops products and systems to analyze real-time protein function for research and clinical applications.