Switzerland's Nitec Pharma has gained $26 million in its second round of venture capital, with much of that being budgeted to advance its therapy for rheumatoid arthritis. The round was led by NGN Capital, together with existing investors Atlas Venture and Global Life Science Ventures.
"Now that we have successfully demonstrated the potential of Lodotra in the clinic, these funds will help us bring to the market a product that meets real patient needs while also enabling us to expand Nitec's product pipeline and commercial potential," commented Jochen Mattis, co-founder and head of marketing and sales at Nitec.
- read the release on Nitec