Alder Biopharmaceuticals was incorporated in January 2004 and within six months acquired funding from the United States Army to explore the development of new production technologies for humanized antibodies. That early success was followed in fall 2004 by seed funding from WRF Capital, the venture investment arm of Washington Research Foundation in Seattle, Washington, and other private investors.
Alder closed on Series A financing in July 2005. Sevin Rosen Funds led the USD$11 million round, and was joined by Ventures West Management, Inc. of Vancouver, British Columbia, and WRF Capital of Seattle. Steve Dow, General Partner at Sevin Rosen Funds, noted that Alder is included in a category of companies that have the potential to "effect fundamental changes in the marketplace" by allowing the biotech industry to cost-effectively manufacture therapeutic monoclonal antibodies.
Alder closed its Series B financing in July 2006. H.I.G. Ventures led the USD$16 million round, and was joined by existing investors Sevin Rosen Funds, Ventures West, and WRF Capital. Alder's Series C financing closed in December 2007, with a USD$40 million round led by Delphi Ventures and TPG Biotech.
Today Alder is actively developing its own antibody therapeutics while out-licensing its technologies, enabling others in the biopharmaceutical industry to accelerate discovery and production of cost-effective antibody therapies.
Phase II rheumatoid arthritis study begins.
Phase II cancer study begins.
Enrollment in ALD518 Phase II RA trial complete.
Mark D. Young, Ph.D., joins Alder management team.
Alder and Bristol-Myers Squibb enter global agreement worth $1.3B for the development and commercialization of ALD518.