Rob De Ree, NorthSea Therapeutics CEO (Biogeneration Ventures)

Biotech start­up lines up more cash to steer its NASH drug through stormy seas

In Jan­u­ary 2020, Dutch NASH-fo­cused biotech North­Sea Ther­a­peu­tics raised $40 mil­lion in a Se­ries B to progress its lead can­di­date icos­abu­tate, a struc­tural­ly-en­gi­neered fat­ty com­pound for NASH. Just shy of two years lat­er, North­Sea has com­plet­ed an­oth­er round of fi­nanc­ing, net­ting a $80 mil­lion Se­ries C to start a Phase III in NASH and ad­vance sev­er­al oth­er can­di­dates.

The biotech an­nounced the raise ear­ly this morn­ing, which was co-led by Ys­ios Cap­i­tal and For­bion Growth, and joined by new in­vestor Her­cules Cap­i­tal. Some of the ex­ist­ing in­vestors that hopped on­to the round in­clud­ed No­vo Seeds and Sofinno­va, ac­cord­ing to North­Sea.

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