Lux Biosciences, Inc., a privately held biotechnology company focused on the development and commercialization of therapies for serious ophthalmic diseases, today announced that the company has closed a $50 million Series B venture financing. Participants in the funding were current investors in Lux Biosciences, HBM Bioventures, Novo A/S, Prospect Venture Partners and SV Life Sciences (SVLS), as well as SVLS' publicly traded fund, International Biotechnology Trust plc. This financing will provide funds for Lux Biosciences beyond the anticipated 2010 US- approval for LUVENIQ™ (oral voclosporin, LX211) and the preparation for commercial launch of that product for non-infectious uveitis.
“From the beginning, we believed that Lux Biosciences had great programs that together made a compelling investment case in the ophthalmology field, which we felt was ripe for the development and commercialization of important new therapeutics,” said Lutz Giebel, Ph.D., Managing Partner at SVLS. “In just over three years, Lux’s seasoned management team has executed efficiently on the company’s business plan bringing LUVENIQ to the approval stage. This new financial commitment underscores our confidence in Lux and its team, as well as the commercial potential of the company’s products.”