UCLA spinoff C3 Jian, Inc., which is developing drugs to fight tooth decay, on Monday said it raised $60.5 million in a just-completed Series D financing.
The Marina Del Rey company plans to use the money to continue mid-stage clinical trials of its lead product, C16G2, which targets a bacterium responsible for cavities. The money also will further development of a second drug candidate that aims to promote tooth remineralization as well as strengthen hair and nails.
Current and new shareholders participated in the round, which was led by longtime backer Renaissance Holding Co., a national dental insurance holding company. New shareholders included entities affiliated with dental benefits company Delta Dental.
C3 Jian, which was founded in 2005, last raised money in March 2012, obtaining $30 million.
