Date: 2011-06-01
Type of information: Fundraising
Company: Shield Therapeutics (UK)
Investors: Inventages Venture Capital (UK-Switzerland-New Zealand-Bahamas)
Amount: €8.2 million
Funding type: series A financing round
Planned used: The new investment will help fund the Phase III pivotal development programme and subsequent filing of a marketing authorisation application for ST10-021, a novel stable complex of ferric iron in an oral formulation initially being developed for the treatment of iron deficiency anaemia, a key symptom of both ulcerative colitis and Crohn’s disease. Shield Therapeutics will commence international Phase III trials of ST10-021 in patients with these indications in the second half of 2011.
Others: Shield Therapeutics, the independent specialty pharmaceutical company focused on the development and commercialisation of late-stage hospital pharmaceuticals, has raised €8.2m (CHF10m/US$12m) from Inventages Venture Capital in its first institutional (Series A) financing round.
The investment by Inventages follows the recent completion of a final private investor led fundraising and was made at a post-money valuation of €35m (CHF43m/US$51m). The investment is scheduled in two equal tranches over the next two years. Prior to the investment by Inventages, Shield Therapeutics successfully completed three private investment rounds, raising a total of approximately €6 million (CHF7.5m/US$9.0m).
Therapeutic area:
