Many pharmaceutical and biotech companies devote themselves to the discovery and development of novel drugs for unmet medical needs. However, with R&D costs and regulatory hurdles multiplying, and much of the low-hanging therapeutic fruit already picked, a growing number of firms are taking a different, pragmatic approach. They are looking in a new light at existing compounds that may have been dropped in development for reasons that are no longer insuperable, or even withdrawn from the market. One such firm is Lumavita, whose CEO Nicholas Benedict spoke to Scrip's companies editor Eleanor Malone.

The total investments secured by private companies slumped once more in June, disappointing onlookers hoping that May's healthy performance was a sign of recovery in the market, a Scrip analysis has found.

Lumavita, a Swiss start-up biopharmaceutical company focused on women's health, has raised another CHF6 million (€4 million), bringing its series A total to CHF24 million.

Each month, Start-Up presents a comprehensive review of young, private life science companies that have received venture funding during the month, including companies in the pharmaceutical, medical device, diagnostic and research instrumentation & reagent sectors.