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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