The newly formed RxCapital has made its first investment, in metabolic and cardiovascular disease drug developer Rivus Pharmaceuticals' $35m series A round.
RxCelerate, a UK-based contract research organisation (CRO) for drug discovery and development, has set up a corporate venture capital fund called RxCapital.
The vehicle will invest up to £1m ($1.2m) in each company it backs and is targeting developers of therapeutics for unmet medical needs. Investments come with no requirement for the company to use RxCelerate’s services.
RxCapital has made its first investment, participating in a $35m series A round for US-based Rivus Pharmaceuticals alongside VC firm Longitude Capital and multi-corporate-backed…
