| Third 2007 investment above €49 million
17 January 2007 12:08
By Tornado Staff
Novexel, a specialty pharmaceutical company focused on the discovery and development of novel anti-bacterials and anti-fungals, has raised €50 million in a Series B fundraising. The round was led by new investor, Edmond de Rothschild Investment Partners and included participation from all Novexel’s existing investors (Atlas Venture, Sofinnova, Abingworth, 3i, Novo A/S and BIT), as well as other new investors, Goldman Sachs, NeoMed and NIF SMBC. The funds raised will be used for ongoing clinical development and to advance the company’s anti-infective pipeline. Novexel has four compounds in development.The French company researches and develops anti-infectives for the treatment of severe and difficult-to-treat bacterial and fungal infections. It has an extensive portfolio of anti-bacterial and anti-fungal compounds, R&D programs, and intellectual property. Novexel’s focus is on novel anti-microbial compounds with activity against multi-resistant organisms. At inception in 2004, the Paris-based company took possession of a portfolio of anti-infectives programs and intellectual property formerly the property of sanofi-aventis, and received €40 million in financing from an international group of life science investors. This is the third investment in 2007 at or above the €49 million mark. Plastic Logic leads the pack with €76.4 million and Novexel is being followed closely by Movetis (€49 million) If you like to be updated on investment deals done in Europe, subscribe now to our Weekly Deals in Europe Report
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