Sanifit raises series D, smashing Spanish biotech VC record

fiercebiotech | June 26, 2019

Sanifit has raised a 55.2 million Euros ($62.9 million) series D round. The financing sets Sanifit up to take its lead drug through phase 3 studies while exploring its potential in other progressive vascular calcification disorders. Sanifit made headlines in 2015 when it raised the largest ever private round for a Spanish biotech. Equipped with €36.6 million in series C funds, Sanifit took SNF472 through a phase 2 program that linked the calcification inhibitor to improvements in wound healing and pain in calciphylaxis patients. Now, Sanifit has set a new private Spanish biotech financing record. Caixa Capital Risc, a unit of one of Spain’s largest banks, led the series D with the support of two its compatriots, Columbus Venture Partners and Alta Life Sciences, that backed Sanifit for the first time. Two other existing Spanish investors in Sanifit, Ysios Capital and HealthEquity, also contributed to the series D. Sanifit raised the rest of the money from an existing syndicate of international investor that includes Lundbeckfonden Ventures and Forbion Capital Partners. But the presence of five Spanish investors means local VCs played a significant role in a big financing. "It says a lot about the Spanish life sciences environment. We have a number of VC firms specialized in healthcare in Spain," Sanifit CEO Joan Perelló said. "It's a large financing which always makes things more complicated but we're delighted having had the ability to attract additional investors.”

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