Shield Therapeutics, a Switzerland-based specialty pharmaceutical company treating iron deficiency in the blood, has raised €8.2m ($12m) from Inventages Venture Capital, which acts as the corporate venturing unit for local chocolate maker Nestle, in its series A round.  

The round gives a post-money valuation of €35m and will be paid in two equal tranches over the next two years to fund Shield’s next set of trials of its lead product.

In November, Shield sold a minority stake and signed a commercialisation agreement to central and eastern Europe and the Middle-East for its lead asset to treat anemia, ST10-021, with Austria-based AOP Orphan Pharmaceuticals in return for an upfront payment of €1.25m and further milestone-based payments of up to €1.75m. The agreement valued Shield at €26.5m.

Shield had previously raised €6m in three private investment rounds.

Gunnar Weikert, chairman of Inventages and who will be joining Shield’s board, said:…

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