VectivBio AG, a Basel, Switzerland-based clinical-stage biotechnology company developing transformational medicines for patients with serious rare diseases, closed a $110m crossover financing.
Backers included new investors Surveyor Capital (a Citadel company), Cormorant Capital and Eventide Asset Management, with participation from existing investors Versant Ventures, OrbiMed, Novo Holdings, BPI France, Tekla Healthcare Investors, Inserm Transfer Initiative and Cowen Healthcare Investments.
Proceeds from the financing will be used to support the Phase III program of the company’s lead investigational product, apraglutide, to treat short bowel syndrome (SBS), early commercialization activities and further development of the pipeline through business development initiatives. Phase II studies of apraglutide demonstrated the potential for once-weekly dosing.
Led by Luca Santarelli, M.D., chief executive officer, VectivBio is a global, clinical-stage biotechnology company focused on developing transformational therapeutics for patients living with serious, rare diseases. The company is committed to pursuing rare diseases with well-defined biology that can be targeted with best-in-disease therapies that have the potential to meaningfully transform and improve the lives of patients and their families, not just provide an incremental improvement over the standard-of-care. Its lead investigational program, apraglutide, is a next-generation GLP-2 analog for the treatment of short bowel syndrome (SBS).