Movetis raises EUR 49 million
Movetis (Vosselaar, Belgium), a gastrointestinal specialty pharma spinout from Johnson & Johnson (JNJ), raised EUR 49 million ($64.7 million) in a series A round led by Sofinnova Partners and Life Science Partners. Other investors include Sofinnova Ventures; KBC; GIMV; Quest for Growth; and BIP Investment Partners. Assets from JNJ include EU rights to Resolor prucalopride, a serotonin (5-HT4) receptor agonist that has completed Phase III testing for severe and chronic constipation. Movetis also received two products in Phase I: M0002, a vasopressin V2 receptor antagonist for ascites, an accumulation of fluid in the bowels caused by liver malfunction; and M0003, a 5-HT4 agonist for diabetic gastroparesis and pediatric regurgitation or reflux in young children. Movetis also received five preclinical compounds. ...