Switzerland-based autoimmune disease drug developer Anokion has closed a $40m series B round featuring Novartis Venture Fund and Novo Ventures, respective subsidiaries of pharmaceutical firms Novartis and Novo.
Venture capital firm Versant Ventures and undisclosed private investors also participated in the round, which followed $37.4m in series A funding from the same investors in 2014.
Anokion is developing therapies that are intended to restore normal levels of immune tolerance to patients suffering from autoimmune diseases such as multiple sclerosis, type 1 diabetes and celiac disease.
The funding was disclosed alongside Anokion’s acquisition of Kanyos Bio, a US-based celiac disease drug developer, for an undisclosed sum.
Kanyos was formed in 2015 as a joint venture between Anokion and pharmaceutical firm Astellas, the latter joining Novo Ventures, Novartis Venture Fund and Versant Ventures to provide $16m of equity financing for Kanyos at the same time.
