Eyeing Both A Partnership And An IPO, Aragon Takes $42M Series C

A well-connected fund that invests on behalf of a group of high-net-worth investors provides cash to complete a Phase II trial on prostate cancer drug ARN-509, and bring a breast cancer drug into the clinic.

As it contemplates a partnership and an initial public offering, oncology drug developer Aragon Pharmaceuticals Inc. has turned to private investors for a $42 million Series C round of funding that could provide flexibility for both actions.

The Topspin Fund, which invests on behalf of individuals including billionaire hedge fund founder Jim Simons of Renaissance Technologies, participated alongside Aragon’s existing investors. The same individuals, including longtime Pittway Corp. and Honeywell International Inc

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