Johnson & Johnson Development Corporation and Astellas Venture Management back the drug developer alongside venture firms New Enterprise Associates, Hatteras Venture Partners and Fletcher Spaght Ventures.
US-based pharmaceutical company Johnson & Johnson and Japan-based pharmaceutical company Astellas’s corporate venturing units have invested a further $23m in PhaseBio Pharmaceuticals, a drug developer.
Johnson & Johnson Development Corporation and Astellas Venture Management were joined in the series B extension round by venture firms New Enterprise Associates, which led the round, Hatteras Venture Partners and Fletcher Spaght Ventures.
PhaseBio is developing drugs to treat diabetes, metabolic disease and cardiovascular disease. The round takes the total raised in PhaseBio’s series…
