Sanifit Smashes Spanish Record With €72.2m Fundraiser
The Mallorca-based group has closed Spain's largest ever private biotech round to advance its calcification inhibitor into late-stage trials.
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A couple of months after licensing the late-stage kidney disease drug sparsentan from Travere, the Swiss group has beefed up its nephrology activities by buying Mallorca-based Sanifit and Swiss outfit Inositec.
Spain now enjoys a reasonable level of venture capital to help translate its scientific excellence into budding biotechs and the country's major life sciences backer Ysios is looking to unearth more jewels there, as well as in the rest of Europe and North America.
The embattled German major is touting a promising mid-stage thrombolytic but the spotlight this week has continued to shine on its business model and high levels of debt.