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Novo Ventures company plans to fetch USD 127.5m on the US stock exchange

The newly founded spinout company Vectivbio, which Novo Ventures has invested millions of kroner in, has announced that it is getting listed in the US with the goal of fetching USD 127.5m for developing a treatment for short bowel syndrome, which Zealand Pharma is also banking on.

Novo Ventures Senior Partner Naveed Siddiqi | Photo: Novo Ventures / PR
BY ALBERT RØNNING-ANDERSSON, TRANSLATED BY NIELSINE NIELSEN

The battle for the short bowel syndrome market is getting tougher.

The Novo Ventures-backed spinout company Vectivbio will soon enter the US stock exchange hoping to land USD 127.5m for further developing the firm's drug hope apraglutide. Following solid results in a phase II study for short bowel syndrome, drug was recently tested on the first patient in the crucial phase III trial, according to a press announcement from the Swiss company, which was founded in 2020 with backing from a series of life science venture funds.

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