The Australia-based biotechnology company, which is now part of Novo Ventures' portfolio, has raised $64m in its last two rounds.

Denmark-based pharmaceutical company Novo has invested in a $45m series C round raised by Australia-based Spinifex pain drug developer Spinifex Pharmaceuticals.

Novo Ventures, Novo’s corporate venturing subsidiary, was joined by new investor Canaan Partners and existing investors GBS Partners, Brandon Capital Partners, Uniseed and UniQuest. GBS, Brandon and Uniseed previously invested $19m in Spinifex’s 2011 series B round

Spinifex intends to use the investment to further development of its lead project, EMA401, an oral treatment for chronic pain without side…