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Billionaire Platt-Backed Biotech Startup Raises $54 Million

  • Engitix plans to use funds to develop pipeline, bolster growth
  • Investors in round include Platt’s Netherton, drugmaker Dompe
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Engitix Ltd., a U.K.-based biopharmaceutical company whose backers include billionaire hedge fund manager Michael Platt, has raised $54 million in private financing to boost growth.

The series A funding round was co-led by existing backer Netherton Investments, a fund allocating on behalf of Platt, and new investor Dompe Farmaceutici SpA, according to a statement obtained by Bloomberg News.