Forbion, BGV lead €25m series-A for NorthSea Therapeutics

Novo Seeds, the corporate venture arm of pharmaceutical company Novo Norsk, and New York-based New Science Ventures (NSV) also took part in the round.

The fresh capital will be used to conduct a phase IIb clinical study in preparation for phase III.

John Kastelein, professor of medicine at the Academic Medical Center in Amsterdam and scientific adviser to NorthSea, said he expects the compound to move rapidly into advanced-stage clinical trials.

Sander Slootweg and Marco Boorsma will join NorthSea's board on behalf of Forbion, Rob de Ree will join for BGV, Søren Møller for Novo Seeds and Somu Subramaniam for NSV.

Company
NorthSea is a Dutch biotechnology company developing a compound for the treatment of non-alcoholic steatohepatitis. The company estimates 15-30 million people suffer from this condition in six major markets. NorthSea's compound is a structurally engineered fatty acid called icosabutate. It aims to complete the phase IIb study by the end of 2018.

People
Forbion – Sander Slootweg (managing partner); Marco Boorsma (general partner).
BioGeneration Ventures – Rob de Ree (operating partner).
NorthSea Therapeutics – Rob de Ree (CEO).

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• Topics
• Early-stage
• Healthcare
• Benelux
• Venture
• Netherlands