The newly formed RxCapital has made its first investment, in metabolic and cardiovascular disease drug developer Rivus Pharmaceuticals' $35m series A round.

RxCelerate, a UK-based contract research organisation (CRO) for drug discovery and development, has set up a corporate venture capital fund called RxCapital. The vehicle will invest up to £1m ($1.2m) in each company it backs and is targeting developers of therapeutics for unmet medical needs. Investments come with no requirement for the company to use RxCelerate’s…

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