BioCentury
ARTICLE | Financial News

Covagen secures $47.1 million in series B

December 10, 2013 1:29 AM UTC

Covagen AG (Zurich, Switzerland) secured CHF42 million ($47.1 million) in a tranched series B round led by new investor Gimv. New investor Ascent Biomedical Ventures also participated, along with existing investors Novartis Venture Fund; Edmond de Rothschild Investment Partners; Seroba Kernel Life Sciences; Ventech; and MP Healthcare Venture Management. Covagen can obtain an additional CHF14 million ($15.7 million) if undisclosed milestones are met. The company declined to disclose how much of the funding it has already received. Gimv's Karl Naegler and Ascent's Avi Kometz joined Covagen's board. ...