Japanese biopharma producer LUCA Science has raised a ¥3.86-billion ($30.3 million) oversubscribed Series B financing round while Solana Ventures and the Solana Foundation have formed a $100-million fund.
LUCA Science raises $30.3m
Japan’s LUCA Science has raised ¥3.86 billion ($30.3 million) in an oversubscribed Series B financing round co-led by DCI Partners, 4BIO Capital and existing investor Fast Track Initiative.
The round was joined by an international syndicate of existing investors including Remiges Ventures and Nippon Venture Capital Co, and new investors including Nissay Capital, Asahi Kasei Pharma, QB Capital/NCB Venture Capital and SMBC Venture Capital.
The company will use the proceeds to accelerate the development of its novel mitochondria isolation technology platform and to set up its manufacturing capability.
LUCA Science is a preclinical stage biopharma company pioneering a new class of mitochondrial therapy to restore cellular bioenergetics in dysfunctional or damaged tissues and organs.
Solana launches $100m fund
Solana Ventures and the Solana Foundation have formed a $100-million fund to support the growth of nonfungible token (NFT), blockchain gaming and decentralized finance (DeFi) projects in South Korea, Techcrunch reported.
The fund is backed by capital from the Solana community treasury in addition to the venture arm’s pool of capital.
Solana Ventures launched a similar $100-million gaming fund with crypto exchange FTX and Lightspeed Ventures last November. It also has a $150-million fund with game-focused firms Forte and Griffin Gaming Partners.