MerLion gains $25M and buys two biotechs
Singapore's MerLion Pharmaceuticals has completed two European acquisitions and raised $25 million in new venture funds as it positions itself for an IPO in two years. MerLion acquired Combinature Biopharm of Germany and Athelas of Switzerland. MerLion officials say they expect a full $30 million funding round will be completed in the fourth quarter of this year.
"This funding will propel the company toward an initial public offering within two years," the company announced. MerLion Pharmaceuticals was formed in 2002 through the privatization of the former Centre for Natural Product Research, a unit of Singapore's Institute of Molecular and Cell Biology.
- read the report from Dow Jones
PLUS: The UK's Thiakis has garnered $19 million in its first round. The round was co-led by Novo A/S and Advent Venture Partners. Release
ALSO: 4-Antibody, a Basel-based developer focused on fully human antibodies, announced that it closed on a CHF 6 million first round of venture funding. Release
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