Making GI moves

A new spinout from Johnson & Johnson, gastrointestinal specialty pharma company Movetis N.V., was expected to announce on Monday this week that it raised E49 million ($64.7 million) in a series A round led by Sofinnova Partners and Life Science Partners. Assets from JNJ include EU rights to the pharma company's Resolor prucalopride, a serotonin (5-HT4) receptor agonist that has completed Phase III testing for severe and chronic constipation, as well as two compounds in early clinical testing and five preclinical compounds.

Other investors include Sofinnova Ventures, KBC, GIMV, Quest for Growth and BIP Investment Partners...