Nitec Pharma secures $10M investment
Basel, Switzerland-based Nitec Pharma AG says it has secured a $10 million Series A investment from leading venture capital firms Atlas Venture and Global Life Science Ventures.
As part of the investment, Joel Besse, senior partner of Atlas Venture and Peter Reinisch, partner of GLSV, have joined Nitec's advisory board, the firm noted.
Nitec, which recently spun-out from German drugmaker Merck KGaA to establish itself as a pharmaceutical company in Switzerland, is focused on the development of anti-inflammatory drugs with an improved benefit-risk profile for patients suffering from chronic inflammatory diseases.
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