1. Scrip
  2. >>Business
  3. >>Financing

New Cash Moves NorthSea Up In NASH

€36m Raised By Dutch Biotech

 
• By Kevin Grogan

With two new US investors on board, NST is financed to complete a Phase IIb trial of icosabutate in non-alcoholic steatohepatitis.

Euros
Cash boost for Dutch biotech Northsea • Source: Shutterstock

NorthSea Therapeutics BV (NST) has raised €36m which the Netherlands-based firm hopes will propel its non-alcoholic steatohepatitis (NASH) candidate icosabutate ahead of numerous rivals in this fiercely competitive field.

The Dutch biotech has closed a series B financing which brought on board new US investors venBio Partners, which led the round, and Sofinnova Investments. Existing investors Forbion, Novo Seeds, New Science Ventures and BioGeneration Ventures, which backed NST's €25m series A funding in December 2017, also participated

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Financing

Switzerland Biopharma To Stay Strong Despite More Cash Going To US And China

 
• By Kevin Grogan

The sector is continuing to show resilience despite financial and market challenges.

Finance Watch: Unity Lays Off All Employees As It Evaluates Alternatives

 
• By Mandy Jackson

Restructuring Edition: Unity unveiled more Phase IIb data for lead asset UBX1325 along with plans to shed its workforce while seeking a partner for it and other drugs. Also, Ono is consolidating US employees at one site, Entrada is cutting its workforce by 20% and other recent strategic shifts.

Finance Watch: Biohaven Gains Up To $600m In Fresh Capital

 
• By Mandy Jackson

Public Company Edition: Biohaven secured $250m up front from Oberland Capital to support its future US troriluzole launch after pulling its EU filing. Also, Procaps arranged $130m in private equity and Rezolute grossed $96.9m in a rare follow-on offering, among other financings.

Scrip M&A Podcast: Will FDA Staff Cuts Impact Biopharma Dealmaking?

 
• By Joseph Haas

Attorneys Andrew Goodman and Alan Minsk, as well as Naya CEO Daniel Teper, discussed the ramifications of US FDA staff cuts on M&A activity with Scrip senior writer Joseph Haas.

More from Business

Accelerated Approval May Be Out Of Reach For PTC’s Huntington’s Drug

 
• By Joseph Haas

PTC said its updated Phase II data for PTC 518 met the primary endpoint of Huntingtin’s protein reduction, but analysts said there isn’t clear correlation with clinical benefit.

Finance Watch: Unity Lays Off All Employees As It Evaluates Alternatives

 
• By Mandy Jackson

Restructuring Edition: Unity unveiled more Phase IIb data for lead asset UBX1325 along with plans to shed its workforce while seeking a partner for it and other drugs. Also, Ono is consolidating US employees at one site, Entrada is cutting its workforce by 20% and other recent strategic shifts.

Pharma Predicts Modest Impact From Tariffs, But It Depends On What Comes Next

 
• By Jessica Merrill

Drugmakers aren’t expecting a big financial hit from tariffs for now, but a report commissioned by PhRMA suggests the cost of pharma-sector tariffs could be steep.