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AstraZeneca and Nomura Phase4 Ventures today announced the signing of a deal to form Albireo, a company focused on developing new treatments for gastrointestinal (GI) disorders. Albireo, based in Gothenburg, Sweden, has secured one clinical and a number of pre-clinical GI programmes from AstraZeneca as well as several researchers with extensive experience in AstraZeneca's GI Research Area. The spinout is a result of AstraZeneca's previously announced strategic decision to concentrate on Nexium® and internal GI research focussed on Gastroesophageal Reflux Disease (GERD).
Albireo will be financed by a syndicate of growth capital firms, led by Nomura Phase4 Ventures, and joined by TVM Capital and Scottish Widows Investment Partnership, all specialist investors in the healthcare markets. The company has raised $27 million in its first closing and anticipates receiving up to $40m in a Series A financing round. AstraZeneca retains a significant minority equity interest as well as a seat on the Albireo board alongside representatives from TVM Capital and Nomura Phase4 Ventures.
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Albireo will be financed by a syndicate of growth capital firms, led by Nomura Phase4 Ventures, and joined by TVM Capital and Scottish Widows Investment Partnership, all specialist investors in the healthcare markets. The company has raised $27 million in its first closing and anticipates receiving up to $40m in a Series A financing round. AstraZeneca retains a significant minority equity interest as well as a seat on the Albireo board alongside representatives from TVM Capital and Nomura Phase4 Ventures.
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