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AdvanceCor GmbH. (8/15). "Press Release: AdvanceCor GmbH Closes a Second Financing Round with MIG AG as Lead Investor". Munich/Martinsried.

Organisations Organisation AdvanceCor GmbH
  Organisation 2 MIG Verwaltungs AG
  Group MIG Fonds (Group)
Products Product revacept
  Product 2 venture capital
Index term Index term AdvanceCor–SEVERAL: investment, 201508 2nd financing round €2.2m led by MIG AG inkl Bayern Kapital + Bio-M + HTGF + KfW Bank + founders
Persons Person Münch, Götz (Corimmmun 200701 Managing Director + Co-founder before Procorde)
  Person 2 Motschmann, Michael (MIG Funds 200604)
     


The biotech company AdvanceCOR GmbH has successfully closed a further financing round with MIG AG, Bayern Kapital, Bio-M, Hightech-Gründerfonds and KfW bank, amounting to EUR 2.2 million. The company is specialized in inflammatory mechanisms in cardiovascular diseases. This investment will enable AdvanceCOR to achieve further patient studies with the lead product, the platelet inhibitor Revacept®. Up to date, 53 patients have been included and fully dosed in the current phase II study in symptomatic carotid artery stenosis – no relevant adverse effects have so far been observed. Due to the blinded study design, the analysis of efficacy will be done at the end of the trial. The product pipeline will be further expanded and developed. Revacept® is a lesion-specific inhibitor of arterial thrombosis for the treatment of patients with acute coronary syndromes and stroke. Revacept® has the unique feature to potently inhibit the initial steps of platelet activation without affecting general hemostasis.

The lead investor in this financing round is MIG AG, Munich, Germany. Co-investors in the investor consortium are Bayern Kapital, Bio-M, Hightech-Gründerfonds, the founders and KfW Bank.

Both investors, led by MIG AG, and the founders of the company expressed their content about closing the deal. “The present investment will enable further clinical development of projects. We continue to be confident to bring the company to success in a concerted manner with our shareholders.”


About AdvanceCOR GmbH

AdvanceCOR GmbH is a privately owned biotechnology company located in Martinsried near Munich, Germany. AdvanceCOR owns several clinical and preclinical projects generated from its own scientific program or from the outstanding university groups of the company´s founders.


About MIG AG

MIG Verwaltungs AG is a Munich-based venture capital firm with an investment focus on early to mid stage life science and technology companies in German-speaking Europe. MIG Verwaltungs-AG is the management entity of several venture capital funds (MIG Funds) with a total volume exceeding EUR 800 million. MIG and MIG’s investment portfolio can be found @ www.mig.ag


For more information please contact

AdvanceCOR GmbH
Prof. Dr. Götz Münch
Fraunhoferstr. 9a
D-82152 Martinsried
Telefon +49-89-2000 204 10
Email: info@advancecor.com

MIG Verwaltungs AG
Michael Motschmann
Ismaninger Straße 102
D-81675 München
Telefon +49-89- 98 57 06
Email: info@mig.ag

   
Record changed: 2017-04-02

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