Three years ago, after Merck Serono pulled the plug on its operations in Switzerland, a team of 8 neurodegeneration specialists used the shutdown as an opportunity to start their own biotech spinout, dubbed Asceneuron. And now they've gathered a substantial $30.6 million round to fund their drive into the clinic with a new drug candidate for Alzheimer's disease.
Sofinnova Partners has followed up the succession of IPOs by its portfolio companies with the sale of its stake in GlycoVaxyn to GlaxoSmithKline. The sale continues a busy two years for the VC shop.
France's Inotrem is working up a novel approach to the global scourge of sepsis, and now, thanks to some high-profile investors, the biotech has $25 million to take its immunotherapy from the benchtop to the clinic.
The British biotech has rounded up $28 million (£17.5 million) in first-round venture cash from a group of marquee investors willing to bet big that Crescendo's mouse platform can deliver the best in cutting-edge antibody fragment therapeutics.
Swiss biotech Auris Medical has raised $50.6 million in a series C round of financing to advance its two major therapeutics for the treatment of inner ear disorders.
Bucking weak investor interest in the life sciences, Paris-based Sofinnova--a longtime player in biotech venture circles--has put together a $312 million fund that will be entirely dedicated to the life sciences.
The U.K's wealthiest charity has blueprinted big plans to back fledgling therapeutics and diagnostics companies with a brand new £200 million ($317 million) fund.
Europe may becoming a major draw for venture capital, Xconomy reports.