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NEA nets first European biopharma deal with €23m Prosensa investment

25 Jan 2012

New Enterprise Associates (NEA) has led a €23m financing round for Prosensa, a Dutch biopharmaceutical company focusing on RNA-modulating therapeutics for rare diseases with high unmet needs, marking the firm’s first biopharmaceutical investment in Europe.

New investor NEA joined existing investors Abingworth, Life Sciences Partners, Gimv, Idinvest Partners and MedSciences Capital in the round, which will enable the company to advance its portfolio of RNA-modulating therapeutics for the treatment of rare diseases such as Duchenne muscular dystrophy, Myotonic Dystrophy and Huntington’s disease.

David Mott, a general partner at NEA, said, “We are excited by the opportunity to invest in Prosensa, one of the most promising emerging European biopharmaceutical companies.

“Prosensa has world-class science, management and co-investors, and most importantly is developing therapies for rare genetic diseases which may offer tremendous benefits to patients. Their progress to date, particularly with the Phase III Duchenne muscular dystrophy program, is very encouraging,” he added.

This week NEA also announced it had backed Fantasy Shopper, a UK-based website that socialises and gamifies online shopping. The company inked $3.3m from its first round of funding, led by NEA and venture capital heavyweight Accel Partners.

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