The round has been extended to $56m following a $40m first close in December 2015 featuring GlaxoSmithKline, Novartis, Astellas and AbbVie.
US-based biopharmaceutical company Effector Therapeutics boosted its series B round, already backed by investors including pharmaceutical firms GlaxoSmithKline (GSK), AbbVie, Novartis and Astellas, to $56m on Friday.
The extension was provided by investment firm Sectoral Asset Management as well as existing, unnamed investors.
Effector Therapeutics raised an initial $40m in December 2015 in a tranche led by Altitude Life Science Ventures. GSK, AbbVie, Astellas and Novartis participated through their respective corporate venturing arms SR One, AbbVie Biotech Ventures, Astellas…
