Stepping up in Scandinavia

After subsisting on loans and drips of capital for 12 years, Aprea AB has closed one of the largest-ever Scandinavian biotech venture rounds. An international syndicate is funneling €46 million ($50.4 million) into the Swedish cancer company based on mechanistic and clinical data showing Aprea's lead compound reactivates p53, a key cancer target once thought intractable.

Versant Ventures, which is making its tenth European investment in the last five years, and 5AM Ventures co-led last week's series B financing and were joined by Sectoral Asset Management and HealthCap...