Switzerland-headquartered rare disease drug developer VectivBio has completed $110m in crossover financing from investors including pharmaceutical firm Novo.
The round also featured Inserm Transfer Initiative, a vehicle for public research organisation firm Inserm, as well as Surveyor Capital, Cormorant Capital, Eventide Asset Management, Versant Ventures, OrbiMed, BPIfrance, Tekla Healthcare Investors and Cowen Healthcare Investments.
VectivBio is developing a therapy called apraglutide to treat a condition known as short bowel syndrome (SBS) which is caused by the lack of a functional small intestine. It was spun off by Therachon, a genetic disease drug developer that had been backed by Novo.
Apraglutide has passed through phase 2 clinical trials and the financing will support phase 3 trials for the candidate in addition to its early commercialisation.
Luca Santarelli, VectivBio’s CEO, said: “We are excited by the addition of these accomplished crossover investors to our syndicate of top-tier investors.
“We look forward to continuing to advance apraglutide and to preparing our organisation to bring a potential best-in-class therapy to people living with SBS.”
Novo, Tekla Healthcare Investors, Versant Ventures, Inserm Transfer Initiative, BPIfrance, Cowen Healthcare Investments and OrbiMed had previously supplied $35m in financing for the company when it launched in January this year.
