Oct. 13 Quick Takes: Sovereign wealth fund backs Evotec; plus Canaan, EdiGene, Cedilla, Rappta and Lassogen
UAE fund, Novo invest €250M in Evotec
Evotec SE (Xetra:EVT) raised €250 million ($295.5 million) via a private placement in which it sold shares to Mubadala Investment Co. and Novo Holdings A/S. Mubadala, a United Arab Emirates sovereign wealth fund, supplied €200 million in exchange for a 5.6% stake, while Novo raised its stake to 11% with a €50 million contribution. Evotec, whose business model relies on frequent partnerships with biopharmas around its preclinical platform and services, climbed €0.98 to €23.57 on Tuesday.
Canaan closes $800M fund
Canaan Partners closed its twelfth fund at $800 million to invest in early-stage healthcare and technology companies. About 40 percent of the fund will be dedicated to biopharma investments, firm spokesperson Will Nevius told BioCentury...