Value-added medicines firm Hyloris has raised €15m from new and existing investors through a private equity offering of nearly one million new shares.

A new national project to support bioventures and the venture capital funds investing in them has started in Japan. The strategic aim of the JPY50bn initiative is to enhance the speed of development and trials of new drugs and vaccines for infectious diseases, the lack of which became obvious since the breakout of COVID-19. 

Hyloris expects to expand its portfolio to around 30 candidates by 2024, bolstered by €50m in cash and cash equivalents as of the end of 2021.

The first clinical results from its mitochondrial derived peptide pipeline is good news for CohBar, but it needs investors or big pharma partners to help it progress.