At a glance
- Novo Holdings co-led both rounds; the two Nordic rounds with Novo Holdings total €130 million.
- The €62.5 million Series B funds a Phase 2b trial of AC01, an oral treatment for advanced heart failure.
- Breye, a Copenhagen ophthalmology company, closed an oversubscribed €67.5 million Series A co-led by new investor Mission BioCapital and returning investor Novo Holdings.
The Ljungström family office co-led AnaCardio's €62.5 million Series B on Sept. 30 and joined Breye Therapeutics' €67.5 million Series A on Sept. 29, according to FO Pro's deal round-up. Novo Holdings co-led both rounds; the two Nordic rounds with Novo Holdings total €130 million.
The €62.5 million Series B funds a Phase 2b trial of AC01, an oral treatment for advanced heart failure. The study will enroll about 400 patients across 12 countries, with the first participant expected in the fourth quarter. AnaCardio, a Stockholm clinical-stage developer of heart failure therapies, raised the financing with Novo Holdings and the Ljungström office as co-leads. Helsinn, which originated the lead drug, and existing investors Pureos Bioventures, Sound Bioventures, Industrifonden, Flerie and LLD Nybohov Invest joined, plus new investor Innovestor Life Science.
Breye, a Copenhagen ophthalmology company, closed an oversubscribed €67.5 million Series A co-led by new investor Mission BioCapital and returning investor Novo Holdings. The Ljungström office joined as a new investor alongside Innovestor Life Science, EIFO, Catalyze Capital, Modi Ventures and Pappas Capital, with Sound Bioventures also returning. Lukas Ljungström and Mission BioCapital's Robert Blazej will join Breye's board.
The Adani Family Office backed Nudge, the Indian startup formerly known as BeBetta, across two consecutive rounds. Nudge is moving from sports-based engagement to receipt-based rewards and consumer purchase data. Jhaveri Credits and Capital and other family offices, alternative investment funds and private investors from India and Dubai participated; the amount raised was not disclosed.
BuzzFeed agreed on Sept. 23 to sell 4.3 million Class A shares to Allen Family Digital for about $4.7 million. Allen Family Digital is the family office entity controlled by BuzzFeed chairman Byron Allen. The $1.09 per-share price matched the Sept. 22 Nasdaq close with no discount. Allen disclosed his interest and abstained from the board vote; the audit committee and four disinterested directors approved the terms. BuzzFeed must register the shares for resale within 60 days of a purchaser request.
| Deal | Family office role | Status | Size |
|---|---|---|---|
| AnaCardio Series B (Stockholm) | Co-lead with Novo Holdings | Closed Sept. 30 | €62.5m |
| Breye Therapeutics Series A (Copenhagen) | New investor; board seat for Lukas Ljungström | Closed Sept. 29 | €67.5m |
| Nudge (India, formerly BeBetta) | Backer across two consecutive rounds via Adani Family Office | Rounds closed; amount not disclosed | Not disclosed |
| BuzzFeed Class A shares | Buyer via Allen Family Digital | Agreed Sept. 23 | About $4.7m |
Reported by the Direct & Co-Investments desk from FO Pro — The Family Office Professional, GlobeNewswire (via FO Pro), Breye Therapeutics (via FO Pro), YourStory (via FO Pro) and Dealroom (via FO Pro). Published . Corrections