JP Morgan Partners, the venture capital arm of JPMorgan Chase, led the £32m (€51m) investment in one of the largest private financing rounds in the biotechnology sector this year.

RiboTargets, the biopharmaceutical company, raised the money in its third round of financing. The other investors were Apax Partners and 3i, the global private equity houses Advent Venture Partners, the UK early stage investor NIB Capital, the Dutch investment company and Quester, the UK technology venture capital firm.