AbbVie, Eli Lilly, Johnson & Johnson, Pfizer, IBM and WuXi PharmaTech are among the backers of a $48m series A round for life sciences startup Petra Pharma.

US-based biotechnology company Petra Pharma has raised $48m in a series A round backed by pharmaceutical firms Eli Lilly, Johnson & Johnson, Pfizer, AbbVie and WuxiPharmaTech. Johnson & Johnson invested through its corporate venturing unit Johnson & Johnson Innovation, while Pfizer participated through its Pfizer Venture Investments vehicle. Watson Fund,a subsidiary of technology company IBM,…

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