Spain’s SpliceBio Defies Sentiment With €50m Financing
Gene Therapy Player Backed By UCB And Novartis
The Barcelona-based firm, which has a protein splicing platform that aims to address the major limitation of delivering large genes using AAV vectors, has sealed the largest series A fundraising by a Spanish biotech.
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Private Company Edition: In other $100m-plus venture capital rounds, Third Harmonic Bio emerged with $155m, including a new $105m series B round. Also, Europe- and Japan-focused Newton Biocapital launched its second VC fund with €50m in initial capital and a €150m fundraising goal.
The Swiss giant is paying up to $1.5bn upfront to get hold of Gyroscope's AAV2-based one-time investigational gene therapy for geographic atrophy, an advanced form of dry AMD that leads to irreversible vision loss.
A couple of months after licensing the late-stage kidney disease drug sparsentan from Travere, the Swiss group has beefed up its nephrology activities by buying Mallorca-based Sanifit and Swiss outfit Inositec.