Transave, Inc., Monmouth Junction, N.J., a biopharmaceutical company focused on developing innovative inhaled pharmaceuticals for the site-specific treatment of serious lung diseases has raised an aggregate of $35 million pursuant to its recently completed preferred stock offering. Joining the company's board are Richard Kollender from Quaker BioVentures and Steve Kraus from Bessemer Venture Partners, the lead investors in the Series D financing. Also participating in the financing were TVM Capital, Prospect Venture Partners, Fidelity Biosciences, Forbion Capital Partners and Easton Capital, all having previously taken a leading investment role in Transave.

"Proceeds from ...