The business previously received $16m of financing from fellow venture firms New Enterprise Associates, Pfizer Venture Investments and Alexandria Venture Investment.
Lundbeckfond managing partner Mette Kirstine Agger and Bay City managing director Carl Goldfischer will join the company’s board following the financing according to Cydan.
Cydan CEO Cristina Csimma said, “Since Cydan was launched in April we have made significant progress in establishing our unique orphan drug business model, enabling us to effectively evaluate a significant number of potential opportunities.
“The expanded financing reflects the high level of interest from the investment community in our model and offers additional flexibility in the types of opportunities we can pursue.
“Cydan will also have further reach into national and international networks to increase access to academic and research communities and hubs in both Europe and the West Coast.”
Earlier this year Edinburgh-based medical devices maker DySIS Medical raised £7.4m from venture capital firm Lundbeckfond Ventures and its existing investors.
Lundbeckfond contributed £6m with the remaining £1.4m coming from DySIS shareholders Albion Ventures, NBGI and the Scottish Investment Bank (SIB).
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