Novo Ventures, a strategic investment subsidiary of pharmaceutical firm Novo, co-led a $55m series B round for ReViral, the UK-based developer of a treatment for a respiratory virus, on Wednesday.
Healthcare-focused venture capital firm New Leaf Venture Partners co-led the round, which included Brace Pharma Capital, the corporate venturing arm of pharmaceutical company EMS, as well as Perceptive Advisors, Andera Partners and OrbiMed.
ReViral is developing an oral treatment for respiratory syncytial virus (RSV), a virus similar to the common cold that can have serious effects on infants and the elderly, sometimes leading to respiratory illness in the latter group.
The series B proceeds will fund the progress of ReViral’s lead RSV candidate, RV521, into adult and paediatric phase 2a clinical trials in addition to the development of more antiviral inhibitor treatments for the virus.
Representatives of both Novo Ventures and New Leaf will join ReViral’s board of directors in conjunction with the round. Novo Ventures partner Nanna Luneborg said: “We have been following the RSV field for some time and see ReViral as a leader in this space.
“We are delighted to offer our investment expertise, furthering the development of the company as it moves into paediatric trials.”
MTS Securities was placement agent for ReViral in the round, which followed a $21m series A round in 2015 co-led by OrbiMed and Edmond de Rothschild Investment Partners that included Brace Pharma Capital and Wellcome Trust.