University College London spin-out Canbex Therapeutics has received €6m ($6.8m) from pharmaceutical firm Ipsen in exchange for the option to acquire the firm upon competition of its Phase IIa clinical study.
Canbex is currently developing a drug for the treatment of spasticity in people who suffer from multiple sclerosis. The firm previously raised £2.3m ($3.6m) in a 2013 series A round, which received backing from UCL, charity investor the Wellcome Trust, and Merck Serono’s venture capital arm MS Ventures.
Canbex’s…
