Penningtons Manches’ venture capital team has advised KaNDy Therapeutics, a clinical-stage women’s health company, on its Series C funding round. The funding involved a syndicate of leading transatlantic life sciences investors raising £25 million from new US investor Longitude Capital, and existing internationally recognised life sciences investors Advent Life Sciences, Fountain Healthcare Partners, Forbion Capital Partners and OrbiMed.
The proceeds will enable KaNDy to advance its breakthrough non-hormonal drug candidate, NT-814, for treatment of multiple symptoms of the menopause, through a multi-country Phase 2b dose-ranging study due to start recruiting patients in Q4 2018 with headline results expected in late 2019.
The Penningtons Manches team was led by corporate partner Justin Starling, with support from Elizabeth Yell, Magnus Williams, Fern Tawera, and life sciences partner Chris Shelley. The deal is another substantial growth capital transaction for the Penningtons Manches venture capital team, which has closed in excess of 60 VC and fundraising transactions in 2018 so far, and emphasises its particular strength in advising on funding deals in the life sciences sector.