Scrip is part of the Business Intelligence Division of Informa PLC
This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
GSK spins off Autifony, which gets £10mm in a Series A commitment; round totals £23.75mm
Autifony Therapeutics Ltd. (hearing disorders) has spun off from GlaxoSmithKline PLC and concurrently received a Series A commitment of £10mm ($16mm) evenly split by Imperial Innovations Group PLC (which will have 33.6% ownership) and SV Life Sciences. A director from Imperial has joined Autifony’s board. Autifony has collected £3mm in the first tranche; the rest will be realized upon the achievement of milestones, including completion of a major preclinical toxicology study leading to IND or CTA filing (expected within a year). Once certain milestones are met and all of the financing is received, GSK’s stake in Autifony will be reduced from 25.4% to 13.2%.
Already a Strategic Transactions subscriber?You have access to the full deal record through your subscription
Want to become a subscriber?Subscribers get more deal details, updates, deal financials and deal products.Questions?