University of the Balearic Islands spinout Sanifit has raised $62.8m in a series D round backed by existing backer Lundbeckfonden Ventures to bring its overall financing to $149m.
Sanifit, a Spain-based vascular calcification medicine spinout of University of the Balearic Islands, closed a €55.2m ($62.8m) series D round on Wednesday featuring Lundbeckfonden Ventures, the corporate venturing arm of pharmaceutical firm Lundbeck.
The round was led by Caixa Capital Risc, the venture capital vehicle for financial services firm La Caixa, and also featured Columbus Venture Partners, Alta Life Sciences, Ysios Capital, HealthEquity, Forbion Capital Partners, Gilde Healthcare, Andera Partners and unnamed private investors.
The company claims the round is the largest ever to be raised by a Spain-based biotech company, and it was secured alongside the capitalisation of $19.3m in convertible bonds.
Founded in 2007, Sanifit is working on a drug candidate, codenamed SNF472, for the treatment of calciphylaxis, a rare cardiovascular condition characterised by calcium deposits in skin and fat tissue that obstruct blood flow.
Proceeds from the round will facilitate accelerated development of…
