Date: 2012-06-19
Type of information: Fundraising
Company: Nuevolution (Denmark)
Investors: Industrifonden (Sweden) - Sunstone Capital (Denmark) - SEB Venture Capital (Sweden) - SEB Utvecklingsstiftelse
Amount: € 11 million (DKK 80.5 million)
Funding type: financing round
Planned used: These new capital will allow Nuevolution to significantly expand its current business of identification of small molecule lead compounds against therapeutically important high value targets.
Others: Nuevolution, a small molecule lead discovery company, has raised DKK 80.5 million in a new financing round. The round was led by Industrifonden with strong support by existing investors Sunstone Capital, SEB Venture Capital and SEB Utvecklingsstiftelse.
Nuevolutions Chemetics® platform uses innovative DNA labeling of small molecule compound libraries enabling a fast and cost effective screen of more than one billion compounds in the efforts to identify hits and leads for further pharmaceutical development.
Since 2008, the Chemetics® technology has been successfully applied against a broad range of partnered targets including protein:protein interactions, that have been difficult to address using conventional HTS and medicinal chemistry. In all of its commercial partnerships, Nuevolution has identified attractive chemical matter devising the path forward for development of novel drug candidates against highly challenging targets.
Therapeutic area: Technology - Services
