Genetics Co. raises CHF25 million

Genetics Co. (Schlieren, Switzerland) raised CHF25 million ($20.7 million) in a series C round through Nextech Venture; Novartis Venture; Varuma; and Najeti. The financing will be paid in an initial tranche of CHF17 million and a second tranche of CHF8 million, which is dependent on clinical milestones. Genetics Co. will use the funds to progress its preclinical cancer compounds into Phase I/II trials, which are expected to start in 2007. The compounds inhibit the Wnt signal transduction pathway. ...