True North Therapeutics Gets $22M

South San Francisco-based biotechnology developer True North Therapeutics said yesterday that it has raised $22M in a Series A funding round. The funding came from Kleiner Perkins Caufield & Byers, MPM Capital, SR One, Biogen Idec New Ventures, and Baxter Ventures. The company said the funding will go towards its lead drug candidate, to help advance it to human clinical trials. True North is a spinout of iPierian. The company says it is looking at hematologic, kidney transplant, dermatology and neurological therapeutic areas for its drugs.