Ardana Ltd, the emerging pharmaceutical company focused on reproductive health, announced today that it has secured £9 million in an extension to its recent Series B financing. The extension has received strong support from existing and new investors. The new investors are DVC Deutsche Venture Capital, Albany Venture Managers Limited and 3i Bioscience Investment Trust. Of the current investors, Techno Venture Management (TVM), MVM International Life Sciences Fund, ABN AMRO Participates BV, 3i, Merlin Biosciences Limited, Scottish Widows Investment Partnership, ISIS Equity Partners, Green Highlander LLC and Saffron Hill Ventures increased their investment. Ardana’s series B fundraising, which at £20 million was one of the largest European lifescience funding rounds of 2003, now totals £29 million positioning the company to accelerate its core programmes, as well as pursue further in-licensing opportunities, in order to create value for its shareholders.
