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news.AstraZeneca and Nomura Phase4 Ventures have reported the signing of a deal to form Albireo, a company focused on developing new treatments for gastrointestinal disorders.
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Albireo has secured one clinical and a number of preclinical gastrointestinal (GI) programs from AstraZeneca as well as several researchers with extensive experience in AstraZeneca’s GI Research Area. The spinout is a result of AstraZeneca’s previously announced strategic decision to concentrate on Nexium and internal GI research focused on gastroesophageal reflux disease (GERD).
Albireo will be financed by a syndicate of growth capital firms, led by Nomura Phase4 Ventures, and joined by TVM Capital and Scottish Widows Investment Partnership, all specialist investors in the healthcare markets. The company has raised $27 million in its first closing and anticipates receiving up to $40m in series A financing round. AstraZeneca retains a significant minority equity interest as well as a seat on the Albireo board alongside representatives from TVM Capital and Nomura Phase4 Ventures.