SpringLeaf Therapeutics, a US-based technology platform, has raised $19m after securing an additional $4m investment for its latest round.
US based life sciences specialist Excel Venture Management provided the additional funds for the Series B round, after SpringLeaf held a first close in May. The round was led by GlaxoSmithKline’s SR One.
Venture capital firms Flybridge Capital Partners and North Bridge Venture Partners reinvested in the round, having invested $12m in its A round in 2008. This means the company has raised $31m in aggregate.
Brian Gallagher, a partner at SR One, will join SpringLeaf’s board and said at the time of the first close: "SpringLeaf is developing a patient-centric platform to enable more effective, better tolerated and cost-efficient therapies, which we believe address the core forces for change in today’s health care system.
"This technology overcomes certain formulation challenges for novel drugs, and helps differentiate existing biopharmaceutical therapies, thus positioning SpringLeaf to both develop its own therapeutics and execute multiple partnership opportunities."