Swiss biotech company Evolva Biotech is seeking to raise nearly $50-150 million from venture capital funds, Financial Chronicle reports. The company intends to use the proceeds to meet operational costs between 2012 and 2014 before rolling out its first product in the market.
The company, which is listed on the Swiss Stock Exchange, has so far raised around $85 million from private equity firms since setting up in 2006. Evolva previously also received technology funding of $78 million from the U.S. Defense Threat Reduction Agency for three projects.
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