A $70m boost has been secured by a Manchester-headquartered clinical-stage biopharmaceutical company, which is backed by a range of investors in the likes of Caffè Nero and Gulfstream.
F2G Ltd has received the backing from Forbion and Sofinnova Partners as well existing investors Novo Holdings, Morningside Ventures, Cowen Healthcare Investments and Advent Life Sciences.
The financing comes after the company recently agreed a $480m "strategic collaboration" with Shionogi & Co Ltd.
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F2G Ltd is also backed by Merfin Capital, which has counted Caffè Nero and Gulfstream among its investments, as well as Brace Pharma Capital and the European Investment Bank.
The new funding will enable the company to advance late-stage development and commercialisation in the US of olorofim, a novel oral antifungal therapy to treat invasive aspergillosis (IA) and other rare mold infections.
Nanna Lüneborg of Forbion and Joe Anderson of Sofinnova Partners will also join the F2G board.
Francesco Maria Lavino, chief executive 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 final development and commercialization of olorofim in the US.
"If approved, olorofim is expected to be the first new class of anti-fungal 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."
Nanna Lüneborg, general partner at Forbion, added: "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 and we are pleased to support this highly impactful Company in its next stage of growth as it pursues commercialization of olorofim in the US."
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 moves into this important phase in its development and growth."
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