Baxter Ventures, the corporate venturing unit behind US pharmaceutical company Baxter International, has invested $50.7m in a series B round of funding for Covagen, a developer of therapeutic medicines for people suffering from inflammatory diseases, such as rheumatoid arthritis.
Covagen, a company developing novel medicines for the treatment of inflammatory diseases and cancer, has attracted CHF 44.9m ($50.7m) in an extended series B round of funding from Baxter Ventures, the corporate venturing unit of pharmaceutical company Baxter International.
The Series B includes an option for all existing investors to invest an additional CHF 14m ($15.8m) in the future potentially increasing the total amount of this financing round to CHF 58.9m ($66.5m).
Covagen specialises in fynomers, which are small binding…
