Denmark-based foundation Novo’s corporate venturing-style unit has helped UK-based healthcare company KalVista Pharmaceuticals, which treats an eye condition linked to diabetes, raise £8m ($13.2m).
Novo was joined in the series A round by venture firm SV Life Sciences to back KalVista, which is researching treatments of a disease of the eye caused by diabetes, called diabetic macular edema.
KalVista bought the intellectual property for its treatments from UK-based drug development company Vantia Therapeutics, from which it span out. KalVista’s founders include Vantia’s chief executive Andrew Crockett, who is also chief executive of Kalvista, Dr Lloyd Paul Aiello, a professor at Harvard Medical School, and Dr Edward Feener, an associate professor at Harvard Medical School. A Vantia spokesman said Crockett would be chief executive of both companies.
The Company was founded in 2008 and is also backed by Novo and SV Life Sciences as well as venture firm MVM Life Science Partners. In July Novo co-led the £4m series B round for Vantia Therapeutics along with SV Life Sciences. MVM, SV and Novo span out Vantia from Ferring Pharmaceuticals with up to £19m in March 2008.