Provesica Receives £4m Equity Investment

Provesica Ltd, a Cambridge, UK-based clinical-stage company developing a novel therapeutic approach to overactive bladder, has received a £4m equity investment from Forbion Capital Partners and Seroba Kernel Life Sciences Ltd.
Established in November 2009 as part of the reorganisation of Xention, the company intends to use the funds to progress its overactive bladder (OAB) programme through to the completion of a Phase 2 trial during 2011. 
Provesica’s lead product, XEN-D0501, a compound that has shown promising efficacy in pre-clinical models of overactive bladder and that recently completed Phase 1 clinical trials.
In conjunction with the funding, Sander Slootweg and Geert-Jan Mulder of Forbion, and Graham Fagg of Seroba Kernel, will join Provesica’s board along with Keith McCullagh, who will serve as Chairman, Tim Brears, Managing Director of the company, and Wolfgang Hartwig, who was previously Executive Vice President and Head of Global Pharmaceuticals Research and Development at Bayer Healthcare.  

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