Certa Therapeutics, a Australia-based precision medicine developer that counts biopharmaceutical company Shire as an investor, has raised A$25m ($18.5m) in its latest funding round.
The capital was provided by the Medical Research Commercialisation Fund (MRCF), which invested $16.3m on behalf of the Australian government’s Biotechnology Translation Fund, and multi-university venture capital fund Uniseed, which supplied the rest.
Certa Therapeutics is developing precision therapies for kidney disease that is caused by tissue thickening and scarring known as fibrosis. The condition can lead to kidney failure, necessitating medical dialysis or an organ transplant for the patient.
Shire acquired an 18% stake in Certa when it licensed several clinical-stage therapeutics to the company at the time of its formation, as part of a deal that will also earn it royalties on future sales.
Certa was founded by CEO Darren Kelly, who also founded Fibrotech, the fibrosis treatment developer Shire acquired for $70m in 2014.
– The original version of this article appeared on our sister site, Global University Venturing.