| News

VectivBio secures investments totaling 110 million dollars

19.10.2020

The Basel-based biotechnology firm VectivBio has received a capital injection of 110 million US dollars from both new and existing investors. With this fresh funding, the Basel-based company intends to further develop its drug to treat short bowel syndrome.

The new investors Surveyor Capital, Cormorant Capital and Eventide Asset Management, in addition to existing investors such as the Basel-based Versant Ventures, have provided VectivBio AG with a fresh capital injection totaling 110 million US dollars. According to a press release, the biotechnology firm, which is headquartered in Basel, intends to put this funding towards the further development of its leading product candidate by the name of apraglutide as well as to drive forward commercialization activities and develop additional product candidates.

VectivBio develops innovative drugs aimed at treating rare diseases. The lead product candidate apraglutide serves to combat short bowel syndrome, which is where a section of the small intestine is missing. Symptoms of short bowel syndrome can be the result of congenital abnormalities or emerge in the wake of surgical interventions. Patients suffering from short bowel syndrome require the artificial, intravenous delivery of essential nutrients, a process which can take up to 15 hours per day, according to the press release issued by VectivBio. By administering apraglutide, the aim is to enable to the patient’s body to absorb fluid nutrients more effectively in addition to allowing some nutrients to be taken orally. The fresh capital should allow a Phase III clinical trial to be realized for apraglutide. Moreover, through this process, the company hopes to accordingly be in a position to launch a best-in-class therapy, according to Luca Santarelli, CEO at VectivBio, in the press release.

Santarelli was also previously CEO at the Basel-based Therachon AG, which was taken over last year by Pfizer. As is the case now at VectivBio, Versant Ventures was involved with Therachon as a founding investor. “We have worked with Luca from the beginning and are excited about the progress we’re making into VectivBio’s next chapter”, comments Tom Woiwode, Managing Director at Versant Ventures and Chairman of the Board of Directors at VectivBio, in the press release.

Share this article

Sign up to receive our newsletter in your inbox.

You may also be interested in

Noema Pharma raises 54 million Swiss francs
Basel Area Business & Innovation, Innovation, Invest

Noema Pharma raises 54 million Swiss francs

The Basel-based pharmaceutical company Noema Pharma has raised a total of 54 million Swiss francs as part of a Series...

Read More
Meteoblue constantly presents new developments
Basel Area Business & Innovation, Innovation, Invest

Meteoblue constantly presents new developments

The meteoblue weather service based in Basel has developed a weather map widget that can be embedded in any website....

Read More
Lonza manufactures coronavirus vaccine for Moderna
Basel Area Business & Innovation, Innovation, Invest

Lonza manufactures coronavirus vaccine for Moderna

Lonza plans to start production of Moderna’s coronavirus vaccine in Switzerland before the end of the year. Moderna published the...

Read More
Synendos raises 20 million Swiss francs
Basel Area Business & Innovation, Innovation, Invest

Synendos raises 20 million Swiss francs

Synendos Therapeutics has concluded a Series A financing round, raising 20 million Swiss francs. The Basel biotech will use the...

Read More
Both Basel cantons are first class borrowers
Basel Area Business & Innovation, Invest

Both Basel cantons are first class borrowers

Standard & Poor’s has awarded the canton of Basel-City its top rating of AAA. The rating agency anticipates that Basel...

Read More
ChemAxon establishes subsidiary in Basel
Basel Area Business & Innovation, Innovation, Invest

ChemAxon establishes subsidiary in Basel

ChemAxon develops software for application in the chemicals and biopharma industries. Now, the Hungarian company has established a subsidiary in...

Read More
1 2 3 37

Do you have a question? We'd like to hear from you.