VC firms back $55m series-B for ReViral
A consortium of VC firms has taken part in a $55m series-B funding round for UK-based biotechnology company ReViral.
The round was led by New Leaf Venture Partners and Novo Ventures, with participation from new investor Perceptive Advisors and existing investors Andera Partners, Orbimed and Brace Pharma Capital.
The fresh capital will be used to progress the lead drug candidate into phase-IIa paediatric and adult trials.
Representatives from New Leaf and Novo will join the company's board of directors.
Previous funding
Andera (then Edmond de Rotschild Investment Partners) and Orbimed led a £14m series-A for ReViral in September 2015.
Company
Founded in 2011, ReViral is a UK-based biotechnology company focused on the discovery and development of the next generation of antivirals to treat respiratory syncytial virus (RSV). It is based in Hertfordshire and employs 17 people, and reported an operating loss of £9.3m in the financial year ending in January 2018.
People
New Leaf Venture Partners – Isaac Manke (partner).
Novo Ventures – Nanna Lunebord (partner).
ReViral – Ken Powell (chairman).
Advisers
Company – MTS Securities (corporate finance).
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