Manchester, the U.K-based biotech company F2G raises USD 70 million in recent funding. The financing took place on August 4, 2022. New investors Forbion and Sofinnova Partners co-led the financing for F2G. Meanwhile, existing investors such as Novo Holdings, Morningside Ventures, Cowen Healthcare Investments and Advent Life Sciences joined in the investment.

As a part of the deal, Nanna Lüneborg of Forbion and Joe Anderson of Sofinnova Partners will onboard F2G’s Board of Directors.

Purpose of financing for F2G

With the latest capital infusion, F2G plans to advance late-stage development and commercialization in the US of olorofim. Olorfim is a novel oral antifungal therapy to treat invasive aspergillosis (IA) and other rare mould infections.

What the CEO of F2G has to say

Francesco Maria Lavino, Chief Executive Officer of F2G, said, “We are delighted to attract this additional capital from such high calibre late-stage investors to F2G and welcome Nanna and Joe to the Board. Their experience will be invaluable as we move to our next stage of growth. This is a pivotal year for the company. We are building a world-class team with commercial, operational and deal-making experience as we prepare for the final development and commercialization of olorofim in the US. If approved, olorofim is expected to be the first new class of antifungal with a novel, differentiated mechanism of action in more than 20 years and will address genuine unmet needs in conditions with high morbidity and mortality.”

What the investors have to say

Nanna Lüneborg, General Partner at Forbion, said, “The Forbion Growth Opportunities Fund II focuses on promising late-stage European life sciences companies like F2G. We have been very impressed with the significant progress achieved to date. It pleases us to support this highly impactful company in its next stage of growth as it pursues the commercialization of olorofim in the US.”

In addition, Joe Anderson, Partner at Sofinnova Partners, said, “We aim to support outstanding companies developing innovative treatments for life-threatening disease. With its highly experienced team, F2G has made significant progress over recent years and is now close to bringing its breakthrough product to market for patients with limited treatment options. We look forward to working with management. The Board and our co-investors as the company move into this important phase in its development and growth.”

About F2G

F2G is a clinical-stage biopharmaceutical company. It discovers and develops novel therapies to treat life-threatening rare fungal infections. The company has operations in the UK, US, and Austria. Earlier, in May 2022, F2G collaborated with Shionogi & Co., Ltd. for USD 480 million. Back then, it aimed to develop and commercialize olorofim in Europe and Asia. The collaboration included a USD 100 million upfront payment. However, the remaining amount, USD 380 million, had regulatory and commercialization milestones plus double-digit royalties on sales.

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Jasleen Bhatia works as a content writer for VCBay News. She is pursuing her final semester in Bachelor of Business Administration from IIPS, DAVV. Driven by her keen interest in entrepreneurship and finance, she writes business-related articles.


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