Sofinnova, Rock Springs in $55m Series C for Parkinson’s relief pharma company


luxurary-74895-mSofinnova Ventures, Rock Springs Capital and Adage Capital Management are among new investors in a sizable $55m funding round for US bio-pharmaceutical company Civitas Therapeutics.

Existing backers Bay City Capital, Canaan Partners and Fountain Healthcare Partners also laid down capital for the Series C round.

Civitas Therapeutics develops transformative therapeutics to help relieve symptoms associated with Parkinson’s disease.

The company said the proceeds will be used for the upcoming Phase 3 clinical trials for its lead product CVT-301.

In July AltAssets reported that biotechnology-focused Sofinnova Ventures is targeting up to $500m for its ninth vehicle. The firm’s Fund VIII closed on $440m.

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