Spain-based clinical-stage biopharmaceutical company Laboratoris Sanifit raised €36.6m ($41m) in a series C round backed by pharmaceutical companies Lundbeck and Baxter Healthcare yesterday.
Lundbeck participated through its investment subsidiary Lundbeckfond Ventures. The round was led by venture capital firm Ysios Capital and included financial services firm La Caixa, Forbion Capital Partners, and private equity firms Gilde Healthcare and Edmond de Rothschild Investment Partners.
Sanifit was spun out of University of the Balearic Islands in 2007. The company’s lead drug candidate, SNF472, targets cardiovascular disease linked to calcification in patients suffering from end-stage renal disease who are being treated with haemodialysis.
The company’s second drug candidate is aimed at calciphylaxis, a rare disease that affects nearly 4% of dialysis patients and results in thrombosis, vascular calcification and skin necrosis. The condition is fatal for 80% of patients.
Sanifit will use the series C funding to support a Phase 2b proof of concept for SNF472, and to complete a Phase 2/3 clinical trial for calciphylaxis.
Sanifit previously closed a €3.6m series B round in August 2014 led by La Caixa that featured VC firm HealthEquity, Somtobir, Nefrona Foundation and assorted, unnamed angel investors. It has not disclosed details about its series A round.