ETH Zurich’s Versantis picked up series B funding from Zürcher Kantonalbank among other returning investors to bring its total to $20.6m.
Versantis, a Switzerland-based biotherapeutics spinout of ETH Zurich focused on rare liver and pediatric diseases, has closed a CHF16m ($16.2m) round led by Swisscanto Invest, an asset management arm of financial services firm Zürcher Kantonalbank.
Zürcher Kantonalbank subsidiary Start-up Finance also participated, as did health savings account provider HealthEquity, venture firm Redalpine Venture Partners, investment platform Investiere and Esperante Ventures, a venture firm run by life sciences holdings group C&P, also took part. Assorted angel investors filled out the round.
Founded in 2015, Versantis is working on drugs to treat rare paediatric and liver diseases with unmet medical needs.
The spinout’s lead candidate, VS-01, is indicated for decompensated cirrhosis – liver scarring symptomised by loss of organ function – in addition to acute-on-chronic liver failure, a rare cirrhosis syndrome characterised by acute liver impairment and high-short term mortality rates.
VS-01 began its first clinical trial earlier this year and the capital will help evaluate the drug in multiple doses to establish proof-of-concept in its target indications.
Robert Schier, investment director for private equity and venture capital health tech at Swisscanto Invest, has joined the board of directors.
Redalpine Venture Partners led Versantis’s $4.4m series A round in March 2017 with participation from Zürcher Kantonalbank Start-up Finance, investment group Occident, executive search and investment group Altus Partners, HealthEquity and private investors.
