UK-based pharmaceutical company KalVista Pharmaceuticals secured $33m in series B funding yesterday from investors including pharmaceutical firm Novo.
Investment advisor RA Capital Management led the round, which also featured SV Life Sciences, Longwood Fund and Venrock.
KalVista is working on treatments for diabetic macular edema, a condition which leads to loss of sight, and hereditary angioedema, a blood disease that causes episodic swelling of body parts.
The series B funding will be used to support the advancement of the company’s two main treatment programmes to the clinical trial stage.
KalVista spun out of drug developer Vantia Therapeutics in 2011, securing $13.2m in series A funding from Novo and SV in the process.
Andrew Crockett, chief executive of KalVista’s CEO, said: “We are now in a very strong position to drive the growth of KalVista, and achieve the full potential of our therapeutic pipeline.”