Lilly Ventures and Novartis Venture Fund have co-led a $26.1m round for Cavion, which is developing therapies for cancer and neurological diseases.
US-based neurological and oncologic disease drug developer Cavion has secured $26.1m in a funding round co-led by subsidiaries of pharmaceutical companies Eli Lilly and Novartis.
Lilly Ventures and Novartis Venture Fund co-led the round with venture capital firm Enso Ventures, while additional funds were provided by unnamed existing investors.
Cavion is developing therapeutics that will treat neurological and oncologic diseases by modulating the body’s T-type calcium channel (Cav3).
The company intends to initiate a proof-of-concept phase 2 study of a…
