NEW YORK (GenomeWeb News) – Danish small-molecule lead discovery firm Nuevolution today announced it has raised DKK 80.5 million ($13.7 million).

Proceeds will go toward expansion of Nuevolution's operations directed at identifying small molecule lead compounds against "therapeutically important high value targets," it said. Industrifonden led the financing round. Other participants include Sunstone Capital, SEB Venture Capital, and SEB Utvecklingsstiftelse.