Women's health biotech Forendo raises $15M from some pharma giants

Finland's Forendo Pharma has pulled in €12 million ($15.2 million) to advance its treatment for a painful uterine condition, drawing the support of a few major drugmakers. Novartis ($NVS) Venture Fund and MS Ventures joined in for Forendo's latest round, joining previous investors Novo Nordisk ($NVO), Karolinska Development and Finnvera. With the cash, Forendo plans to take its lead therapy, FP-5677, all the way to proof-of-concept in women with endometriosis. The chronic condition occurs when uterine tissues grow outside the uterus, leading to irritation, scarring and abnormal binding. The disease affects up to 10% of women between adolescence and menopause, according to Forendo, and no current therapies address its underlying cause. More

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