Denmark-based medical foundation Novo, which invests $300m per year through its corporate venturing funds, has reinvested in US-based drugs company Logical Therapeutics’ in its third round of funding. Logical raised $16.9m in its series C round led by venture capital firms SV Life Sciences (SVLS) and Novitas Capital and including merchant bank and VC Burrill & Company alongside Novo. The four series C investors, along with Sigvion Capital and PA Early Stage Partners, which provided the seed funding for Logical in July 2006, had invested $30m in Logical’s series B round in mid-2007. The biotechnology company is working on anti-inflamatory drugs and last year hired Peter Lankau as its chief executive from listed pharmaceutical company Endo.
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Novo makes Logical reinvestment
May 28, 2010 • James Mawson
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