UK biopharmaceutical Heptares Therapeutics, whose backers have included MVM Life Science Partners, Novartis Venture Fund and Takeda Ventures, has been sold to Tokyo-listed pharma company Sosei Group Corporation.
The deal is said to be worth up to $400m.
Heptares is a clinical-stage private technology company focused on creating new medicines to target G protein-coupled receptors, which are said to be involved in many diseases.
The company was founded in 2007 with investment from MVM Life Science Partners and led by co-founders Malcolm Weir and Fiona Marshall.
At the start of this year MVM led an equity financing of up to $10m in portable tablet ultrasound system developer eZono.
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