Logical Therapeutics--which is developing new therapies for inflammatory diseases--has garnered $30 million in its second round of venture capital, which was led by SV Life Sciences. Other investors participating in the Series B financing include Burrill & Company, Novo A/S and Sigvion Capital and PA Early Stage Partners, which provided the seed funding for Logical last July. The funding will allow Logical to advance multiple drug candidates, including its lead drug, LT-NS001, a naproxen pro-drug, through proof-of-concept clinical trials.
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PLUS: WaferGen Bio-systems announced the second closing of a private placement that has brought in $12 million. Release