News

Nuevolution gets €11m to expand
Enlarge image

BusinessDenmarkSweden

Nuevolution gets €11m to expand

20.06.2012 - The Danish small molecule lead discovery SME has raised enough money for international expansion, with planned operations in Sweden.

Copenhagen – In the past Nuevolution A/S from Copenhagen planned to expand operations in Sweden also. Now the Danish drug discovery company has the money to do so. On June 19, the enterprise announced that it had raised €11m in a new financing round. Jonas Brambeck, investment manager of the VC enterprise Industriefonden, said that "Nuevolution has shown the commercial use of their proprietary and innovative technology. The planned expansion in Sweden adds attractiveness to the investment."  Besides that, Industrifonden has again involved investors Sunstone Capital, SEB Venture Capital and SEB Utvecklingsstiftelse in this round.

Nuevolution is situated in the Danish-Swedish biotech cluster Medicon Valley.  Founded in 2001, the company quickly became a major developer of small molecule drugs. It owns a library collection of more than 1 billion small molecules and synthetic biologics. Using this biobank and its very own Chemetics® drug discovery platform, Nuevolution successfully screened for substances for companies like Merck & Co., GlaxoSmithKline, Novartis Pharma and Boehringer Ingelheim. The Chemetics® technology is especially useful when it comes down to the discovery of difficult-to-address protein-protein interactions. Based on a DNA labelling of their small molecule compounds, the method allows fast and cheap screening.

http://www.european-biotechnology-news.com/news/news/2012-02/nuevolution-gets-eur11m-to-expand.html

BusinessGermany

19.09.2014 In order to concentrate on the life science business, German industry giant Bayer is splitting off its plastics subgroup as a separate company.

FinanceSwitzerland

18.09.2014 Swiss biopharma Cardiorentis has received a €45m investment from overseas investment firm Healthcare Royalty Partners in order to finance the registration for its heart drug.

PoliticsEU

15.09.2014 Jean Claude Juncker, the European Commission President-elect revealed his new Commissioners last week, whilst announcing a change in the units dealing with medicines, medical devices and health technology.

BiosimilarsGermanyFrance

12.09.2014 The 2011 collaboration of Boehringer Ingelheim and Eli Lilly is bearing fruit. An insulin biosimilar developed through the partnership has now been approved in Europe - the first-ever generic version of this class.

FinancingNetherlands

11.09.2014 Cystic fibrosis specialist Proqr Therapeutics has set the terms for its upcoming IPO at US-American stock exchange NASDAQ.

Clinical TrialsUKSweden

09.09.2014 In the midst of the hustle and bustle of the European Respiratory Society’s International Congress 2014, Astrazeneca quietly announced the disappointing results of its latest benralizumab study.

BusinessDenmark

04.09.2014 After their arthritis product’s Phase IIb failure, Novo Nordisk A/S is pulling out of all research and development activities within inflammatory disorders.

BusinessBelgiumIrelandSwitzerland

02.09.2014 In the face of declining revenue, Belgian biopharmaceutical company Thrombogenics has decided to spin out its cancer research and development activities.

ResearchUKSwitzerlandItaly

29.08.2014 Just a week ago, Glaxosmithkline defused the WHO’s claim that an Ebola vaccine could be ready by 2015. Now, the British company’s own candidate vaccine is to be rushed to human trials with the help of funding from an international consortium.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • WILEX2.69 EUR14.47%
  • BAYER112.70 EUR6.17%
  • CO.DON3.32 EUR5.40%

FLOP

  • SYNGENTA310.90 CHF-1.96%
  • SANTHERA88.05 CHF-1.23%
  • ADDEX3.10 CHF-0.96%

TOP

  • CO.DON3.32 EUR32.8%
  • PAION3.05 EUR27.1%
  • EPIGENOMICS3.83 EUR22.8%

FLOP

  • ADDEX3.10 CHF-22.5%
  • EVOTEC3.08 EUR-16.1%
  • MEDIGENE3.93 EUR-14.6%

TOP

  • SANTHERA88.05 CHF2058.1%
  • CO.DON3.32 EUR277.3%
  • PAION3.05 EUR202.0%

FLOP

  • CYTOS0.24 CHF-94.0%
  • THERAMETRICS0.09 CHF-40.0%
  • BIOFRONTERA2.20 EUR-39.7%

No liability assumed, Date: 18.09.2014