EIT Pharma raises $35 million as hepatitis D candidate sits with FDA

USA-based infectious disease biotech firm EIT Pharma has closed an oversubscribed $35 million series A round, led by Propel Bio Partners with participation from Good Ventures, Arrowtown and others. The Kirkland, Washington company said the money will principally support its lead candidate, the oral chronic hepatitis D therapy lonafarnib.

Proceeds will fund continued Food and Drug Administration (FDA) review activities, along with manufacturing and commercial readiness work should the drug be cleared. Some of the capital will also go towards EIT Pharma's wider infectious disease pipeline and general corporate operations.