Rare dis­ease play­er rakes in a meaty $81M in Spain's biggest ever pri­vate biotech fundraise

Fund­ing rounds in the Unit­ed States for the life sci­ences in­dus­try of­ten dwarf fi­nanc­ing in Eu­rope. Looks like rare dis­ease biotech San­i­fit is an anom­aly. On Wednes­day, the Span­ish drug de­vel­op­er un­veiled a near­ly $81 mil­lion boun­ty — Spain’s largest-ever pri­vate biotech fundraise — ahead of a piv­otal study for its lead ex­per­i­men­tal drug.

San­i­fit, which was spun out of the Uni­ver­si­ty of the Balearic Is­lands in 2007, is work­ing on a treat­ment for cal­ci­phy­lax­is, a rare dis­ease char­ac­ter­ized by cal­ci­um ac­cu­mu­la­tion in small blood ves­sels of the fat and skin tis­sues — which lead to blood clots, skin ul­cers and po­ten­tial­ly life-threat­en­ing in­fec­tions.

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