BioCentury
ARTICLE | Finance

Sweetening the pot

Why KaNDy plans to develop a women’s health therapy as a single-asset company

August 29, 2018 8:59 PM UTC

KaNDy Therapeutics Ltd. believes its first venture round as an independent company will fund development of a non-hormonal therapy for menopausal symptoms that will be ready for a Phase III trial by 2020.

Longitude Capital led KaNDy’s £25 million ($31.9 million) series C round, announced Aug. 29. The company’s series A and B rounds took place while KaNDy’s IP still belonged to NeRRe Therapeutics Ltd., from which KaNDy was spun out in 2017. NeRRe itself was created in 2012 to house neuroscience programs spun out from GlaxoSmithKline plc (LSE:GSK; NYSE:GSK)...