Evolva raises CHF 28 million in First Closing of Series B
Evolva SA announced a CHF 28 million first closing of its Series B financing round. The Series B financing is led by current investor Aravis and new investors Auriga Partners, Vinci Capital - Renaissance PME and Wellington Partners. BioMedInvest and an undisclosed private investor participated as co-investors in the first closing, as well as Evolva’s existing investors Astellas Venture, Dansk Innovation, Novartis Bioventures and Sunstone Capital.
The first closing is part of Evolva’s preparations to merge with Swiss biotech company Arpida, though the funds are committed independently of the proposed merger. Evolva continues discussions with other investors and 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 2-3 years, in particular EV-077 (cardio-renal indications), EV-086 (anti-fungal) and EV-075 (antiviral).
Neil Goldsmith, Managing Director & CEO, said: “We are pleased that we have succeeded in attracting new high quality investors and that we have received further support from our existing ones. This clearly signals backing from our investor community for the intended merger with Arpida.”
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