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Aeris Capital, venBio back $18m Solstice Biologics Series A

4 Jan 2013

Aeris Capital and venBio have both announced their second investments this week with an $18m Series A financing round for nucleic acids therapeutics company Solstice Biologics.

The company hopes its solutions will allow drug developers to work with the 90 per cent of the human genome currently inaccessible to them due to difficulty getting nucleic acid molecules across cell membranes.

Solstice also announced it had acquired an exclusive licence for intellectual property from University of California, San Diego for technology which deals with the problem.

Aeris Capital managing partner George Rehm, said “The successful accomplishment of this goal of delivering RNAi to a broad range of human cells and tissues will open up a broad market opportunity.”

This week venBio was among four venture firms that invested $31m of Series A funding into chronic migraine treatment company Labrys Biologics.

Canaan Partners, InterWest Partners and Sofinnova Ventures also took part in the financing, which has funded Labrys’ purchase of an anti-migraine antibody from pharmaceutical giant Pfizer.

Aeris Capital this week also re-invested in molecular diagnostics company Crescendo Bioscience as part of a $28m Series D round.

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