It’s always nice to know that the dream is still alive and companies are out doing their thing. There were a few recent raises, let’s take a look…

• Pulmonary-focused company Aerovance announced they just raised $38M equity financing. The company was spun out of Bayer in 2004 and has since raised $92M in equity and $10M in debt financing. Yikes. This round of cash will go towards starting a Phase 2b trial of inhaled Aerovant, a recombinant IL-4 variant, in patients with uncontrolled asthma as well as “enabling activities” for a Phase 3 study — including scale-up of the dry powder spray-drying process and a long-term toxicology study. Investors in this round included ProQuest Investments, Apax Partners, Clarus Ventures, Alta Partners, Lehman Brothers, NGN Capital, Burrill & Co. and BB Biotech Ventures. [PR Newswire]

• KeyNeurotek Pharmaceuticals has raised EUR 8.2M ($10.8M) in a Series C financing. The funds will go towards advancing the company’s two main products: KN38-7271, a dual cannabinoid CB1/CB2 receptor agonist currently in a Phase 2a study in comatose patients, and KN203, a u-opioid receptor agonist slated to start a Phase 2a proof-of-concept trial in patients with urinary incontinence or overactive bladder. Investors included DVC Deutsche Venture Capital, IBG Beteiligungsgesellschaft and KfW. [Ad Hoc News]

Image from aerovance

Related Posts