Merganser, which is developing treatments for haematological and iron overload diseases, has raised $28m in a Novartis-led round.
Novartis Venture Fund, the corporate venturing unit of drug producer Novartis, led a $28m series A round yesterday for Merganser Biotech, a US-based developer of treatments for rare blood-related diseases.
Venture capital firms Frazier Healthcare, Sutter Hill Ventures and Osage University Partners, as well as seed investors BioAdvance and Stateside Developments, also took part in the round.
Merganser is commercialising research by Tomas Ganz and Elizabeta Nemeth, professors at University of California, Los Angeles, the discoverers of hepcidin mimetic peptides.
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