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Financing › Details

Curetis–SEVERAL: investment, 201110 financing round Series A 2nd extension additional €9.6m incl new investors Forbion + Roche Venture Fund

 

Period Period 2011-10-26
  Predecessor Curetis–SEVERAL: investment, 201105 financing round Series A extension additional €6m new investor CD-Venture + existing investors
  Successor Curetis–SEVERAL: investment, 201304 financing round Series B €12.5m incl €6m from new + lead investor HBM Partners
Organisation Money taker Curetis AG
Products Product Unyvero molecular diagnostics platform
  Product 2 venture capital
     

Curetis AG. (10/26/11). "Press Release: Curetis AG Attracts Forbion and Roche as New Investors. Series A Financing Round Expanded to €34.1 Million". Holzgerlingen.

Curetis AG, an innovative molecular diagnostics company focusing on the development and commercialization of in-vitro diagnostic products for infectious diseases, today announced the expansion of its Series A financing round by € 9.6 million. The additional funds increase the round to a total of € 34.1 million and the total capital raised to date to € 36.6 million. The financing was led by Forbion Capital Partners together with Roche Venture Fund. CD-Venture and Curetis´ management also participated in the round. Holger Reithinger, Partner at Forbion Capital Partners, has joined Curetis' Board of Directors. Roche will get an observer seat on the Board of Directors.

Since its inception in 2007, Curetis AG has developed the versatile Unyvero™ instrument platform which handles disease-specific disposable cartridges for the analysis of various marker panels, covering both pathogens and antibiotic resistance genes. The Unyvero™ platform combines a unique, fully automated sample preparation working with a comprehensive range of native clinical sample types, with isolation, amplification and highly multiplexed detection of DNA. The simplified, automated and uniform work flow enables testing at the point of need, eliminates operator-induced variations and ensures high-quality results in a short time frame. The first application, a solution for comprehensive pneumonia testing, has successfully completed extensive pre-clinical testing, is about to enter into pivotal clinical trials towards regulatory clearance and is scheduled to enter the European market as a CE-marked device in 2012.

"There is an urgent unmet medical need for faster identification of pathogens and resistance markers due to increasing antibiotic resistance and even multidrug resistance. With pneumonia, most current diagnostics are still relying on culture-based technologies, which can take days to deliver results," said Holger Reithinger, Partner at Forbion Capital Partners. "Curetis' technology platform will reduce this timeline to hours. I was impressed by the ease-of-use, for the first time including the always-challenging sample preparation in the work flow, and the versatility of the platform allowing for further applications to come. The company is led by an experienced diagnostics industry management team, which has built the company from the start. I am looking forward to helping to make this a commercial success."

"We are pleased to have Forbion and Roche leading our expanded series A financing. These two investors bring additional breadth and depth of molecular diagnostics expertise to the table and significantly strengthen our investor syndicate for the upcoming corporate development phases," added Oliver Schacht, CEO of Curetis. "I am also delighted to see CD-Venture increase their commitment to Curetis and have taken the opportunity myself to invest at this exciting stage of Curetis' development. We are now fully financed for the upcoming clinical trials in the EU and the US, our planned 2012 European market launch of the Unyvero platform and pneumonia application and the FDA filing and clearance in 2012/13."

Schacht said that the proceeds will also be used to develop cartridges for additional indications, e.g. for surgical site infection and tuberculosis and allow Curetis a more aggressive international business development and
marketing strategy.

-Ends-


About Curetis (Germany)

Founded in 2007, Curetis AG is a molecular diagnostics company, which focuses on the development and commercialization of reliable, fast and cost-effective products for diagnosing severe infectious diseases. The diagnostic solutions of Curetis AG will enable rapid multiparameter pathogen and antibiotic resistance detection in only a few hours, a process that today can take up to days or even weeks with other techniques. To date, Curetis has raised total funds of over € 36.6 million (~ USD 50 million). The company is based in Holzgerlingen near Stuttgart, Germany.

About the Unyvero™ System

The Unyvero™ System is a versatile hardware platform for the detection of a broad panel of bacteria and antibiotic resistances from a single sample in one run. It processes a disposable cartridge providing the necessary reagents to complete the analysis from sample to result.

The platform enables the DNA-based testing of all clinically relevant samples in a fully automated, unsupervised analysis process requiring only few, quick manual preparation steps. The analysis thus can be performed with minimal operator time and without the need of skilled staff or special infrastructure.

Thereby, clinically relevant information is available within three hours to support an informed therapy decision as early as possible.

The first Unyvero™ Cartridge, Unyvero™ P50, focuses on pneumonia testing and simultaneously analyses 39 DNA targets. Cartridges for further applications, e.g. for surgical site infections, blood stream infections and tuberculosis, are in preparation.


Contact

Curetis AG
Max-Eyth-Str. 42
71088 Holzgerlingen, Germany
Tel. +49 (0) 7031 49195-10
pr@curetis.com
www.curetis.com

Media Inquiries:

akampion
Dr. Ludger Wess / Ines-Regina Buth
Managing Partners
info@akampion.com
Tel. +49 (0) 40 88 16 59 64
Tel. +49 (0) 30 23 63 27 68

   
Record changed: 2013-04-22

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