Neu­ro­Vive shares crater on PhII flop; F-Prime con­tributes $7.5M in start­up cash for Akriveia

Shares of Neu­ro­Vive Phar­ma­ceu­ti­cals tanked Thurs­day af­ter the small Swedish biotech re­port­ed that it is scrap­ping its cy­closporine for­mu­la­tion in acute kid­ney in­jury af­ter watch­ing it flop in Phase II. The stock (STO:NVP) plunged 44% dur­ing the day.

Thou­sand Oaks, CA-based Akriveia Ther­a­peu­tic bagged a $7.5 mil­lion Se­ries A in­vest­ment from F-Prime Cap­i­tal Part­ners. The biotech is work­ing on im­muno-on­col­o­gy pro­grams. Thomas Beck and Ben Aus­pitz of F-Prime Cap­i­tal Part­ners will join Akriveia’s board along­side Akriveia’s CEO, Si­mon Tom­lin­son, with Beck be­com­ing chair­man of the board.

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