Vivia Biotech closes second round of funding for $9.4 million
Vivia Biotech, a Spanish company focused on hematologic cancers, has successfully closed its second financing round of $9.4 million.
“This transaction is a milestone that sends a clear message to the market to opt for innovative projects with real added value, especially for biotech SMEs within the actual economic and financial situation that we are living in Spain,” said Andres Ballesteros, CEO of Vivia Biotech. “Closing a deal of this volume endorses Vivia’s bet for innovation, and demonstrates the company’s potential and the capacity to attract funding when there is a solid project behind.”
The operation includes funding of $7.8 million in participatory loans by the Society for the Promotion and Economic Restructuring in Andalusia (SAU) on behalf of the Multiinstrument JEREMIE Fund and an additional equity investment of $1.6 million by Bioanalítica Inversiones.
The new injection of capital will finance the commercialization of Vivia’s personalized medicine test for hematologic cancers. It will also enable the continued development of the company’s two main drug candidates, one for the treatment of non-Hodgkin Lymphoma (expected to begin clinical trials in patients later this year) and a second high-potential candidate for diabetes. Vivia is in negotiations with pharmaceutical companies for potential collaborations to further the development of both drug