Ascendis Pharma AS, a Copenhagen-based drug improvement startup, has raised Euro17.6 million in Series A funding. Sofinnova Partners led the deal, and was joined by Gilde Healthcare Partners and Zweite TechnoStart Ventures.
Ascendis Pharma A/S, a new, privately held biotech company, announced today the closing of its first-round of venture capital financing and the acquisition of Complex Biosystems GmbH, Germany. The Series A financing of EUR 17.6 million was led by Sofinnova Partners (France) and co-led by Gilde Healthcare Partners (The Netherlands), with participation by Zweite TechnoStart Ventures Fonds GmbH & Co. KG (Germany). The proceeds will be used to strategically broaden the company's pipeline and to position itself in the space of lifecycle management of high-value, marketed drugs.
“Ascendis has an innovative technology platform for developing of drugs to treat a wide array of clinically important therapeutic areas, including diabetes, CNS, and cardiovascular disease,” said Rafa