SWITZERLAND - Investors fund Evolva with CHF 28m

BioMedInvest and an undisclosed private investor participated as co-investors, as well as Evolva's existing investors Astellas Venture, Dansk Innovation, Novartis Bioventures and Sunstone Capital.

The first closing forms part of Evolva's preparations to merge with listed Swiss biotech company Arpida. However, the funds are committed independently of the merger. Evolva intends to raise further funding in a second closing subject to approval of the merger by Arpida shareholders.

The Series B funding will allow the combined company to progress its clinical compounds through phase II proof-of-concept trials over the next two to three years.

Allschwil-based Evolva uses its genetic chemistry platform to create small molecules, and currently has a number of discovery and pre-clinical partnerships which in 2008 generated revenues of about CHF 12m. The company was founded in 2004.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Expansion
• DACH