Zealand Pharma, a Denmark-based biotechnology company for stomach upsets, has acquired for up to $80m Encycle Therapeutics, a Canada-based biotech focused on bowel disease and backed by Japan-based drugs company Takeda’s corporate venturing unit.
Emmanuel Dulac, CEO at Zealand Pharma, said: “Encycle has demonstrated the significant potential of its innovative peptide chemistry, and have remained focused on benefitting patients by creating orally-delivered therapies. We look forward to continuing progress by leveraging Zealand’s established leadership in peptide drug development.”
In mid-2015, Encycle Therapeutics closed a C$2.85m ($2.1m) round led by Takeda Ventures, and including Accel-Rx Health Sciences Accelerator, BDC Capital and MaRS Investment Accelerator Fund. This followed a $2.5m seed round backed by undisclosed investors in November 2014.
