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Covagen begins Series B round with CHF42mm; could get CHF14mm more

Executive Summary

Covagen AG (therapeutic antibodies for inflammatory diseases and cancer) announced a CHF42mm ($47mm) tranched Series B round, which the company says is one of the largest private rounds for preclinical-stage European biotech. New investor GIMV led (with a CHF8.3mm), and was joined by other new buyer Ascent Biomedical Ventures and returning backers Novartis Venture Funds, Edmond de Rothschild Investment Partners, Seroba Kernel Life Sciences, Ventech, and MP Healthcare Venture Management. GIMV and Ascent have joined Covagen's board.
Deal Industry
  • Pharmaceuticals
  • Biotechnology
    • Drug Discovery Tools
    • Large Molecule
      • Antibodies
Deal Status
  • Final
Deal Type
  • Financing
    • Venture Financing

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