Weatherden, VCs spin Teijin program into NewCo Elevara: Finance Report

VC-backed start-ups spun out of China using the NewCo Model have garnered attention in recent months. Now Elevara appears to be applying the model to an asset from Japan-based Teijin.

European investors Forbion and Sofinnova Partners led a new $70 million series A round for London-based Elevara Medicines Ltd. The company was founded by Weatherden Ltd., whose chief executive, Emma Tinsley, also serves as its Elevara’s CEO. Weatherden’s co-founders include Houman Ashrafian, EVP and head of R&D at Sanofi (Euronext:SAN; NASDAQ:SNY)...