Central regions | Finance, business

Global VCs support Russian-funded cerebral infarction drug developer

26 Oct '18
Acticor Biotech, a French developer which is a portfolio company of Primer Capital, a Russian venture fund, has raised $15.3m from a consortium of European and Asian funds in its B series round of funding, a spokesperson for the Russian VC fund told Marchmont News.

The new investment will be used to support phase II clinical trials for the ACT017 anti-thrombosis drug candidate, specifically for its acute cerebral infarction efficacy. The money the developer raised in its previous round of funding, in which Primer Capital took part, was funneled to back phase I clinical trials.

The ACT017 is what Primer Capital refers to as a unique solution for the pharmaceutical market, aimed at treating acute cerebral infarction and having a favorable safety profile. Its contraindications are very limited, and the candidate is believed to be good enough for emergency therapy within a lifespan which is much wider than the existing competition.

In the most recent round, both investors from the previous round (including CapDecisif Management) and new investment funds participated, the latter including Newton Bio Capital (Belgium), Mirae Asset Capital (Korea), CMS Medical Venture Investment Limited (Hong Kong), and A&B (Hong Kong).

Set up three years ago, Primer Capital is focused on investing in companies that develop far-reaching biotech and medical solutions for a range of the pharma market segments.
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