Index Ventures Spends $11 Million on Antibody-Based Clot Buster
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Index Ventures, an early investor in photo-sharing service Dropbox Inc., spent $11 million creating a company to develop an antibody-based clot-busting drug intended to treat heart attacks or strokes while limiting bleeding.
The new company, X01 Ltd., represents London-based Index Ventures’ largest-ever initial investment in a life sciences project, said David Grainger, a partner in the venture-capital fund who is also the drug developer’s interim chief executive officer. Funds will be used to complete research prior to human testing and finance manufacturing of the antibody, Grainger said in a telephone interview.