An­ti­fun­gal play­er F2G banks $60M, eyes IPO in lead­up to a PhI­II tri­al

On Mon­day, as Cir­cas­sia’s (LSE: $CIR) shares shriv­eled in val­ue in the wake of a Phase III fail­ure, a pair of UK biotechs raised $123 mil­lion to pur­sue their clin­i­cal dreams, un­der­scor­ing the po­ten­tial the sec­tor still has in gar­ner­ing sig­nif­i­cant sums for ther­a­peu­tic de­vel­op­ment work.

One of those com­pa­nies is Man­ches­ter-based F2G, which gar­nered $60 mil­lion to sup­port its de­vel­op­ment of a new an­ti­fun­gal aimed at the 10% to 30% of pa­tients who don’t re­spond to the cur­rent treat­ments avail­able. (The oth­er is Verona, a list­ed com­pa­ny that raised $63 mil­lion.)

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