Biotech Start-Up Ribo Targets Raises L7 Million

20 July 1997

Biotech Start-Up Ribo Targets RaisesL7 Million

Ribo Targets of the UK, a new biotechnology company that is focusing on a new generation of pharmaceuticals that target RNA for the treatment of infectious diseases, including HIV and hepatitis C, has received total funding of L7 million ($11.8 million) from four private equity funds.

Apax Partners, a leading private equity firm, is investing L4 million in the new company; 3i, Advent and Kargoe are investing L1.75 million, L1 million and L250,000, respectively.

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