Gilde Healthcare et al. invest £10m in Levicept

The fresh funding will be used by Levicept to push the company's product LEVI-04 from preclinical research into a proof-of-concept, first-in-human study.

Last month, Gilde led a €12.2m round for Dutch biotech AM-Pharma. Another of the firm's biotech portfolio companies, ProQR Therapeutics, listed on the Nasdaq with a market cap of $272.5m in September.

Previous funding
In March 2012, Index provided seed funding to the company.

Company
Founded in 2012 and based in Sandwich, Kent, Levicept is a biotechnology company developing treatments for osteoarthritis and chronic pain.

The company has developed LEVI-04, a p75 neurotrophin receptor fusion protein, designed to treat chronic pain. Levicept will hold its first-in-human study of the product with osteoarthritis patients.

People
Simon Westbrook is the CEO of Levicept, while Kevin Johnson is the company's executive chairman. The two will be joined on a new board of directors by Advent partner Raj Parekh, Gilde partner Arthur Franken and Index venture partner David Grainger.

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• Topics
• Early-stage
• Healthcare
• UK / Ireland
• United Kingdom
• Gilde Investment Management
• Index Ventures
• Advent Venture Partners