Novacta raises L13.1 million

Novacta Biosystems Ltd. (Welwyn Garden City, U.K.) raised L13.1 million ($21.1 million) in an equity financing led by new investor Celtic Pharma. Undisclosed existing investors also participated. Novacta's lead compound, NVB302, is in preclinical testing to treat Clostridium difficile infection, with Phase I testing expected to start next year. NVB302 is a type B lantibiotic, a naturally occurring class of antibiotic peptide found in bacteria. ...