Denmark-based medical foundation Novo, which invests $300m a year through its corporate venturing fund, has reinvested in Funxional Therapeutics’ second round of funding.
Funxional, a UK-based developer of anti-inflammatory therapies, raised €10m ($12.2m) in its series B round from Novo and venture capital firms Ventech and Index Ventures.
Index and Novo previously invested €2m in Funxional’s series A round in 2007, although the money was only expected to last nine months until the series B round could be raised, according to news provider Dow Jones VentureWire.