BB Bioventures leads $44m investment in Novirio

BB Bioventures has led the third round of funding for the pharmaceutical company, which will use the money to develop drugs against hepatitis B and C.

BB Bioventures has led a $44m round of financing for Novirio, a pharmaceutical company.

The investment was managed by MPM Asset Management.

New investors included Novartis BioVentures, Hanseatic Americas, Biomedical Sciences Investment Fund PTE, Swiss Life Private Equity Partners, Banc of America Securities and Swan Private Equity.

Existing Novirio investors that contributed include Nomura International and funds managed by TVM Techno Venture Management and MPM Capital.

The money will go towards developing drugs against hepatitis B and C.

Novirio was founded in 1998 and completed its first financing round of $12m in the same year. It received a second financing round of $12.5m in 1999, led by TVM and including Nomura, KBL Lux VC Fund and private investors. TVM’s Alexandra Goll sits on the Novirio board.