New investors Forbion and Sofinnova Partners have co-led a $70 million finding round in F2G Ltd, a clinical-stage biopharmaceutical company focused on the discovery and development of novel therapies to treat life-threatening rare fungal infections with a high unmet medical need.
Existing investors, Novo Holdings, Morningside Ventures, Cowen Healthcare Investments and Advent Life Sciences also participated in the round. The proceeds from the financing in addition to the $480 million from the recent strategic collaboration with Shionogi & Co, Ltd, will enable F2G to advance late-stage development and commercialisation in the US of olorofim, an oral antifungal therapy to treat invasive aspergillosis (IA) and other rare mould infections.
As part of the transactions, Nanna Lüneborg of Forbion and Joe Anderson of Sofinnova Partners will join the F2G Board of Directors.
In May 2022, F2G entered a $480million strategic collaboration with Shionogi & Co, Ltd to develop and commercialise olorofim in Europe and Asia which included $100 million in upfront payment and $380 million in regulatory and commercialisation milestones plus double-digit royalties on sales.