Evolva raises $27.6 million

Evolva S.A. (Allschwil, Switzerland) raised CHF28 million ($27.6 million) in a series B round co-led by existing investor Aravis and new investors Auriga Partners; Vinci Capital - Renaissance PME; and Wellington Partners. Other participants included new investors BioMedInvest and an undisclosed private investor, as well as existing investors Astellas Venture; Dansk Innovationsinvestering; Novartis Venture Funds; and Sunstone.

Last month, Evolva said it would reverse merge with Arpida Ltd. (SIX:ARPN) in a stock deal and would conduct an equity financing prior to the deal's completion. Evolva expects a second close in early December subject to approval of the deal by Arpida shareholders. Arpida was off CHF0.01 to CHF1.58 on Friday (See BioCentury Extra, Friday, Sep. 11, 2009). ...