Google-Backed Leyden Labs Closes $140 Million Series B to Fight Viruses with Nasal Spray

Dutch biotech Leyden Labs may have been founded in the early days of the Covid-19 pandemic, but that didn’t stop it from raising $200 million in 2021 to fund the development of treatments against respiratory viruses. The firm recently completed a $140 million Series B financing round led by Series A investors Casdin Capital and GV (formerly known as Google Ventures). 

The fundraising round welcomed new investors such as Softbank Vision Fund 2, Invus, and Bluebird Capital, as well as existing Series A investors F-Prime Capital and Byers Capital/ Brook Byers. 

Additionally, Eli Casdin of Casdin Capital will join Leyden’s board of directors, while Vali Barsen of Softbank Investment Advisers, Jeff Bird of Bluebird Ventures, and Suzanne Jung Angell of Casdin Capital will join the Board as observers. 

The cash injection will go into Leyden’s platform and portfolio development, as well as team expansion.  

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Anti-Influenza Antibody Licensed from Johnson and Johnson

Leyden’s lead candidate is PanFlu, an intranasal spray that delivers CR9114, a human monoclonal antibody that fights against influenza A and B. CR9114 was licensed from Janssen, a Johnson and Johnson company, last week. Under the deal, Leyden paid Janssen an undisclosed sum, and will also make milestone payments in exchange for a worldwide license to develop and market the drug, which can be administered through the nose and throat. 

Last July, Leyden began a partnership with UK-based company Nanopharm to develop nasal sprays for respiratory viruses.

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Joy Lin

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