Magnus raises L15.5M for its asset bundle

Magnus Life Science (London, U.K.), a new company housed at University College London, raised L15.5 million ($24.8 million) in seed funding from an unnamed European private equity investor. Magnus said it has five programs, each contained in a discrete company under the Magnus umbrella.

Magnus' programs include Magnus Oxygen, an injectable therapy for reperfusion injury syndrome; Magnus Flow, a biodegradable, biomagnetic stent; Magnus Growth, a maternal VEGF therapy to improve uterine blood flow to a placenta; Magnus Life, which modulates an unnamed target to treat malignant melanoma; and Magnus Metabolic, a small molecule to treat fat accumulation in Type II diabetics. ...