SpringLeaf Therapeutics, a US-based technology platform for drug development formerly known as Entra Pharmaceuticals, has raised $15m in its series B round led by SR One, the corporate venturing unit of UK-listed healthcare firm GlaxoSmithKline.
Venture capital firms Flybridge Capital Partners and North Bridge Venture Partners reinvested in the B round having invested $12m in its A round in 2008.
Brian Gallagher, a partner at SR One, will join SpringLeaf’s board. He said: "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."