Anaveon validates Novartis for series A

Feb 27, 2019 • Callum Cyrus

Zurich immuno-oncology spinout Anaveon raised $35.1m from Novartis Venture Fund and Syncona in addition to seed-stage notes converted by the UZH Life Sciences Fund.

Anaveon, a Switzerland-based immunooncology spinout of University of Zurich (UZH), raised CHF35m ($35.1m) yesterday in a series A round backed by pharmaceutical developer Novartis’s Venture Fund.

Life sciences-focused investment firm Syncona led the round, which also includes converted seed-stage notes bought previously by UZH Life Sciences Fund.

Syncona, which owns a 47% stake in Anaveon following the transaction, counts research charities Wellcome Trust and Cancer Research UK among its investors.

Founded in December 2017, Anaveon is working on cancer therapies…

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