Sanifit Secures $80.9M in Private Funding and Advances SNF472 for Calcific Uremic Arteriolopathy with FDA Orphan Drug Designation

Recently, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that biopharmaceutical company Sanifit has announced the completion of a €72.2 million (approximately $80.9 million) financing round. This financing consists of a €55.2 million Series D round and €17 million in convertible bonds.

The Series D round was led by Caixa Capital Risc, with participation from existing investors Lundbeckfonden Ventures, Ysios Capital, Forbion Capital Partners, Gilde Healthcare, Andera Partners, and HealthEquity, as well as new investors Columbus Venture Partners and Alta Life Sciences. Damià Tormo from Alta Life Sciences and Guy Paul Nohra from Columbus Venture Partners will join Sanifit’s Board of Directors as non-executive directors.

The proceeds from this fundraising will be used to advance the clinical development of Sanifit’s lead candidate, SNF472, for the treatment of calcific uremic arteriolopathy (CUA). SNF472 is a novel small-molecule selective inhibitor of hydroxyapatite (HAP) crystallization, a key driver of vascular calcification.

Calcific Uremic Arteriolopathy, also known as calciphylaxis, is a fatal and rare vascular disorder predominantly observed in patients with end-stage renal disease undergoing dialysis. Fifty-five percent of patients die within one year of diagnosis due to occlusion of small vessels in the skin and adipose tissue caused by severe cardiovascular calcification. Worsening cardiovascular calcification in these patients can also lead to other associated conditions, such as peripheral artery disease or cardiovascular disease.

It is reported that Sanifit previously completed a €290,000 seed funding round in June 2010, a €3.69 million Series B funding round in August 2014, and a €36.6 million Series C funding round in September 2015.

Sanifit began operations in 2007 as a spin-off from the University of the Balearic Islands. Headquartered in Mallorca, Spain, the company has branches in Sweden and the United States. It is dedicated to developing treatments for vascular calcification diseases.

SNF472’s Phase II clinical trial met its primary and secondary endpoints, and the drug has now received orphan drug designation from both the FDA and the EMA. Sanifit expects to initiate the Phase III clinical trial of SNF472 in the fourth quarter of 2019.

Marcelino Armenter, Chairman of Caixa Capital Risc and CEO of CriteriaCaixa, stated, “This is the largest private financing round in Spain’s regional history, representing a significant development in the country’s healthcare ecosystem. We look forward to continuing to support Sanifit in the clinical development of its innovative products, securing market approval, and ultimately transforming patients’ lives.”

Sanifit is also currently conducting a Phase 2b proof-of-concept study on SNF472 to evaluate its efficacy in slowing arterial calcification in hemodialysis patients, with results expected to be announced in the fourth quarter of 2019.

Caixa Capital Risc, established in January 2004 and headquartered in Barcelona, Spain, is a venture capital firm primarily engaged in seed and early-stage investments in innovative Spanish startups. The company manages four funds—Caixa Capital Micro, Caixa Capital BioMed, Caixa Innvierte Industria, and Caixa Capital TIC—with assets under management totaling €73 million.

Lundbeckfond Ventures is a venture capital firm established in 2009 as a wholly owned subsidiary of the Lundbeck Foundation. The company primarily invests in early- and late-stage companies in the life sciences sector, with annual investments reaching up to €50 million. To date, Lundbeckfond Ventures has completed 50 investments.

Ysios Capital, established in 2008, is a venture capital firm managing over €200 million in assets. The firm operates two funds: Ysios BioFund I (€65 million) and Ysios BioFund II Innvierte (€136 million). Ysios Capital primarily invests in healthcare and biotechnology companies at both early and late stages.

HealthEquity, established in 2002 and headquartered in Utah, USA, is a health savings trust company. The company provides health plan solutions to clients, managing Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), healthcare reimbursement arrangements, and Voluntary Employees’ Beneficiary Associations (VEBAs)—a type of trust fund permitted under U.S. federal tax law to provide employee benefits—for employers, employees, health insurers, benefits administrators, and financial institutions.

Gilde Healthcare, founded in 1982 and headquartered in Utrecht, the Netherlands, is a healthcare investment firm specializing in mid-market buyouts and late-stage venture capital. The firm manages over €800 million (approximately $900 million) in assets, with a primary focus on digital health, diagnostics, medical devices, disease treatment, and healthcare services.

Forbion Capital Partners, established in 2007 and headquartered in the Netherlands, is a private equity and venture capital firm. The company focuses on investing in life sciences companies, drug development firms, and medical technology companies that address significant healthcare needs. Forbion manages over €400 million (approximately $500 million) in liquid assets, primarily participating in early- and late-stage venture capital investments.

Andera Partners, formerly known as Edmond de Rothschild Investment Partners (EdRIP), was founded by Edmond de Rothschild in 1953. It is a private equity and venture capital firm primarily engaged in investments at both the early and late stages of enterprise development. The group’s business operations are mainly focused on two areas: private banking and asset management.

Columbus Venture Partners is a venture capital firm dedicated to investing in early-stage life sciences companies in Spain.

Alta LS, established in 2016, is a venture capital firm that invests across all stages of corporate development. The firm primarily focuses on the life sciences sector, including biotechnology, medical devices, diagnostics, genomics, and digital health.

(Compiled by Tang Lulu)