New Cash Moves NorthSea Up In NASH
€36m Raised By Dutch Biotech
With two new US investors on board, NST is financed to complete a Phase IIb trial of icosabutate in non-alcoholic steatohepatitis.
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Private Company Edition: Omega Funds closed its seventh venture capital fund, far exceeding its $500m goal. Also, Anaveon raised a CHF110m ($119.8m) series B round, Ambys brought its series A total to $107m with $47m in additional investment and Mythic launched with a $103m series B round.
Private Company Edition: BioGeneration closed a €105m ($119m) fund to continue backing new European companies, while Samsara BioCapital, Evotec and KCK Ltd. launched the virtual incubator Autobahn Labs. Also, Poseida, Annexon and Goldfinch close $100m-plus VC rounds.
Cadila Healthcare has received the first approval globally, in India, for a NASH therapy, after the national regulator cleared its candidate saroglitazar. The company also expects to begin Phase III trials in the US in the second quarter of fiscal 2021.