Anavo Therapeutics, a Leiden, Netherlands- and Heidelberg, Germany-based human phosphatase biology company, raised €8.5M in an extension of its Seed round, which brought the total amount to €28M.
Backers included MRL Ventures Fund as a new investor and existing investors M Ventures, INKEF, Taiho Ventures, and Bioqube Ventures.
The company intends to use the funds to accelerate its proprietary portfolio of programs targeting disease-relevant phosphatases toward clinical development.
Led by CEO Birgit Zech, Anavo Therapeutics systematically drugs phosphatases. By leveraging its IGNITE phosphatase drug discovery platform, the company will continue to accelerate its proprietary portfolio of programs targeting disease-relevant phosphatases toward clinical development, while continuing to build a center of excellence for phosphatase targeting.
As a result of the transaction, Karin Kleinhans, Partner at MRL Ventures Fund, will join the existing Board of Directors, which includes Charles McDermott (Chairman); Therese Maria Liechtenstein, M Ventures; Simone Botti, INKEF Capital; Sakae Asanuma, Taiho Ventures; Debora Dumont, Bioqube Ventures; and Birgit Zech, Anavo Therapeutics.
FinSMEs
02/05/2023