Caixa Capital leads €55.2m series-D for Sanifit
Barcelona-based venture capital firm Caixa Capital has led a €55.2m series-D funding round for Spanish biopharmaceutical company Sanifit, which specialises in treatments for progressive vascular calcification disorders.
New backers Columbus Venture Partners and Alta Life Sciences also took part in the round, alongside previous investors Lundbeckfonden Ventures, Ysios Capital, Forbion Capital Partners, Gilde Healthcare, Andera Partners, HealthEquity and several private individuals.
Alta's Guy Paul Nohra and Damià Tormo of Columbus will join the company's board as non-executive directors.
In addition to €55.2m in equity, the company also announced the recent capitalisation of €17m in convertible bonds, which brought the total financing received by Sanifit this month to €72.2m.
Sanifit plans to use the fresh funding to further accelerate the clinical development of its SNF472 drug, which is used in the treatment of calcific uremic arteriolopathy, a cardiovascular condition linked to end-stage renal disease. Sanifit is currently preparing a pivotal phase-III study for its SNF472 drug in Europe and the US, which is expected to start in Q4 2019.
Previous funding
Following an initial seed round of approximately €300,000, received from Caixa Capital in 2010, Sanifit raised a €3.6m series-B round led by La Caixa alongside HealthEquity, corporate backer Somtobir and the Nefrona Foundation in August 2014.
Subsequently, Ysios led a €36.6m series-C investment round for Sanifit in September 2015. Lundbeckfond, Forbion, Gilde, Edmond de Rothschild Investment Partners, La Caixa and Baxter Ventures also took part in the round.
Company
Sanifit develops drugs for patients suffering from progressive vascular calcification disorders. Its lead drug, SNF472, which was developed for calciphylaxis in patients undergoing dialysis, has successfully completed a phase-II proof of concept study in calciphylaxis, with a phase-III pivotal study in preparation.
The company was founded in 2007 as a spin-out from the University of the Balearic Islands and expanded its activities in the US in 2016 with the incorporation of a subsidiary. It is headquartered in Palma de Mallorca, with an additional office in San Diego, US.
People
Sanifit – Joan Perelló (CEO).
Caixa Capital – Marcelino Armenter (chair).
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