Welcome to the latest edition of our weekly EuroBiotech Report. We start this week with investments in three European biotechs. Sanifit led the way, raising a €55.2 million ($62.9 million) series D round that broke the record for private financing of a Spanish biotech. In the U.K., Kymab raised an additional $10 million from LifeArc, with a further $20 million to follow, while over in Germany Modag exited stealth mode with €12 million and plans to trial a neurodegenerative disease drug. Elsewhere, Evotec set the stage for a new crop of startups by again teaming up with the University of Oxford. Verona Pharma named long-time GlaxoSmithKline employee Nina Church as executive director of global clinical development. And more. — Nick Taylor
1. Sanifit raises series D, smashing Spanish biotech VC record
Sanifit has raised a €55.2 million ($62.9 million) series D round. The financing sets Sanifit up to take its lead drug through phase 3 studies while exploring its potential in other progressive vascular calcification disorders.
Kymab is set to receive a $30 million (€26 million) investment from LifeArc in return for access to antibody discovery technologies.
Modag has exited stealth mode with €12 million ($14 million) in series A funds. The German biotech will use the money to take a treatment for parkinsonian disorders into the clinic.
4. Evotec forms Oxford initiative to spawn AI-enabled startups
Evotec has formed a pact to help the University of Oxford’s data-driven drug discovery projects move out of academia. Working with clinical artificial intelligence company Sensyne Health, Evotec will support researchers at the university as they generate data to show the commercial viability of their projects.
5. Verona hires ex-GSK researchers for late-phase push in COPD
Verona Pharma has named long-time GlaxoSmithKline employee Nina Church as executive director of global clinical development. The appointment of Church is part of Verona’s efforts to prepare for phase 3 development of ensifentrine in chronic obstructive pulmonary disease (COPD).
And more articles of note>>