Home Funding Alert Funding: Pharmaceutical Startup F2G Raised $70 million

Funding: Pharmaceutical Startup F2G Raised $70 million

F2G - The Rural Fungal Disease Company
F2G - The Rural Fungal Disease Company - Market Money

United Kingdom-based, Biotech firm F2G raised $70 in a private equity round led through its Forbion Capital Partners, Sofinnova Partners, alongside significant commitments from existing investors. Nanna Lüneborg, General Partner at Forbion and Joe Anderson of Sofinnova Partners will join the F2G board of directors.

The fresh funding will be utilized to advance the development and preparations for the commercialization in the US of Olorofim, a novel oral antifungal therapy to treat invasive aspergillosis (IA) and other rare mould infections.

“We are delighted to have attracted such a high calibre of investors of late-stage and additional capital for F2G. This is an important year for the company. As we prepare for eventual development and commercialization in the US, we are building a world-class team with commercial, operational and dealmaking experience. I look forward to welcoming Nanna and Joe to the F2G board and working together in such exciting times.” Francesco Maria Lavino, Chief Executive Officer of F2G.

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In May 2022, F2G entered into a $480 million strategic collaboration with Shionogi to develop and commercialize Olorofim in Europe and Asia, including $100 million in advances and $380 million in royalties on regulatory and commercialization milestones and sales involved.

About F2G

F2G is a biotech company with operations in the UK, US, and Austria focused on the discovery and development of novel therapies to treat potentially life-threatening invasive fungal infections.

The Company was founded on its proprietary genomics technology which identifies essential gene targets in fungi. Having received initial funding in 2002 the company then rapidly diversified into chemistry-driven discovery. They have also assembled an experienced development capacity.