Chinook Therapeutics, a biotech company creating targeted therapies for kidney diseases, raised an additional $106 million just before its planned merger with Aduro Biotech.

Chinook said it will have at least $275 million in operating capital following the investment and merger.

New investors include EcoR1 Capital, OrbiMed, funds managed by Rock Springs Capital, Avidity Partners, Surveyor Capital (a Citadel company), Ally Bridge Group, Monashee Investment Management LLC, Northleaf Capital Partners, Janus Henderson Investors, Sphera Biotech.

“Upon close of our proposed merger with Aduro Biotech, Chinook will be well-capitalized to move its pipeline programs forward towards its objective of providing meaningful results for patients and to prepare pre-commercialization strategies,” Eric Dobmeier, president and CEO of Chinook, said in a statement.

The merger is expected to close later this year. The combined company will take Chinook’s name and will be headquartered out of Chinook’s facilities in Vancouver, B.C. and Seattle. It will trade on Nasdaq under the ticker KDNY.

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