Lorantis financing raises L16.2 million

7 November 2001

Lorantis, a UK-based emerging immunology drug discovery company, hasannounced the final closing of a L16.2 million ($23.6 million) second-round financing, having received a further L4.7 million from new investors The Wellcome Trust and Northern Venture Managers and existing shareholder Quester. This round follows an initial L11.5 million received earlier this year when JP Morgan Partners led a financing which also included continuing investors Abingworth and Schroder Ventures (Marketletter April 30).

Firm offers "enormous opportunities"

The proceeds will be used to support ongoing research programs within the tolerance field of immunology. Chief executive Mark Bodmer said that the closing of this round is an important milestone for the company, which was established in 1998, and stated his delight "that such high-quality life sciences investors recognize the enormous opportunity that Lorantis offers.''

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