Spain’s Sanifit heads to Phase III with €72.2M in new funding

With €72.2 million ($82.1 million) in fresh cash to fund a Phase III study of its lead candidate to treat a rare vascular calcification disorder, Sanifit is looking ahead to additional Phase IIb trial results that will inform the company's subsequent development plans and funding decisions.

The funding includes €55.2 million ($62.8 million) in series D funding for Laboratoris Sanifit S.L. (Palma, Spain), led by Caixa Capital Risc. The round included two other first-time backers, Spanish venture firms Columbus Venture Partners and Alta Life Sciences. Also participating were returning investors Lundbeckfonden Ventures, Ysios Capital, Forbion, Gilde Healthcare, Andera Partners, HealthEquity and undisclosed individuals. Separately, Sanifit raised €17 million ($19.4 million) in convertible bonds...