LifeCycle Pharma Secures EUR 15 Million in Series C Funding

Strategic Insights -

LifeCycle Pharma A/S, a privately owned biotechnology company, has completed a EUR 15 million private placement, led by Alta Partners, a US-based life science investor. The funding will be used to advance the company's main projects from the clinical phase to registration, including reformulated versions of fenofibrate for cholesterol management and tacrolimus for eczema. Dr. Jean Deleage, co-founder and director of Alta Partners, will join LifeCycle Pharma's board of directors.

Key Takeaways:

  • LifeCycle Pharma secured EUR 15 million in series C funding, led by Alta Partners, with participation from existing investors H. Lundbeck A/S, Novo A/S, and Nordic Biotech.
  • The funding will be used to advance the company's main projects from the clinical phase to registration, including reformulated versions of fenofibrate for cholesterol management and tacrolimus for eczema.
  • Dr. Jean Deleage, co-founder and director of Alta Partners, will join LifeCycle Pharma's board of directors.
  • LifeCycle Pharma has a clinical pipeline of value-added formulations of approved products, with 3 products currently in clinical development.
  • The company has developed a clinically validated drug-delivery platform for solving the insufficiencies of drugs with low water solubility.
  • Alta Partners was founded in 1996 by 4 of the senior partners of Burr, Egan, Deleage & Co. (BEDCO), a venture capital firm formed in 1979.
  • LifeCycle Pharma is a privately owned biotechnology company with a focus on reformulating existing products to improve efficacy and patient outcomes.

Statistics:

  • EUR 15 million: The amount of funding secured by LifeCycle Pharma in the series C round.
  • US $18.36 million: The equivalent of EUR 15 million in US dollars based on current exchange rates.
  • 3: The number of products in clinical development at LifeCycle Pharma.
  • 1996: The year Alta Partners was founded.
  • 1979: The year Burr, Egan, Deleage & Co. (BEDCO) was formed.

Sources:

  • NewsRx.com
  • Health & Medicine Week
  • Alta Partners
  • LifeCycle Pharma A/S
  • H. Lundbeck A/S
  • Novo A/S
  • Nordic Biotech
  • Adamant Biomedical Investments AG (regarding DG Lux Multimanager I Sicav Lacuna Apo BioTech Subfund)