Kezar raises $50M in series B round

Autoimmune company Kezar Life Sciences Inc. (South San Francisco, Calif.) raised $50 million in an oversubscribed series B round led by Cormorant Asset Management and Morningside Ventures. New investors Cowen, Pappas Ventures, Qiming Venture Partners and Bay City Capital also participated, as did existing investors EcoR1 Capital, Omega Funds and Aju IB Investment.

Kezar, which houses assets spun out from the Onyx Pharmaceuticals Inc. subsidiary of Amgen Inc. (NASDAQ:AMGN), raised $23 million in a series A round in June 2015 (see BioCentury Extra, June 16, 2015)...