Cerulean raises $16M

Cerulean Pharma Inc. (Cambridge, Mass.) raised $16 million in a first close of a planned $24 million series C round led by new investor Lilly Ventures. Existing investors Polaris Venture Partners; Venrock; Lux Capital; and Bessemer Venture Partners also participated. Lilly Ventures' Steve Hall will join Cerulean's board. ...