More financing and a fresh start for France's Pharnext
Paris, France-based neurodegenerative disease specialist Pharnext (Euronext: FR001400BV89) has attracted a strategic investment from fellow French firm Néovacs (Euronext: FR00140077X1).
The deal with Néovacs, a biotech focused on therapeutic vaccines targeting autoimmune diseases, follows on from existing financing agreements, with an arrangement in October leading to over 20 million euros ($21 million) in funding for Pharnext.
Néovacs has now increased its financial support, with up to an additional 2 million euros per month until the end of 2023.
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