Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Forendo Pharma, a Finland-based gynaecological therapy developer based on University of Turku research, on Friday received €5m ($5.6m) from Sunstone Life Sciences Ventures. Forendo’s lead candidate, codenamed FOR-6219, targets endometriosis – a chronic condition affecting women of reproductive age which causes recurring pain and infertility. The drug is being prepared for further clinical testing to follow a phase 1a study completed recently. Forendo received $11.6m in a 2013 round backed by Karolinska Institute’s VC arm, Karolinska Development, in addition to drug developer Novo subsidiary Novo Seeds, Finnish state-owned innovation funding agency Tekes and government-owned financing firm Finnerva. Karolinska, Novo and Finnerva then joined the corporate venturing arms of drug makers Novartis and Merck Group – Novartis Venture Fund and M Ventures – for Forendo’s $15m series A round in 2014, before growth-stage fund Vesalius Biocapital III Partners added $4.7m last September.
UK-based accountancy client relationship management software…
