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Financing › Details

AdvanceCor–SEVERAL: investment, 202006 financing round €3.9m led by MIG AG

 

Period Period 2020-06-02
  Predecessor AdvanceCor–SEVERAL: investment, 201805 financing round €6m led by MIG AG + incl Occident Group + Bayern Kapital + HTGF + KfW Bank + founders
Organisations Money taker AdvanceCor GmbH
  Money source SEVERAL
Products Product revacept
  Product 2 venture capital
Person Person Motschmann, Michael (MIG Funds 200604)
     

AdvanceCor GmbH. (6/2/20). "Press Release: AdvanceCor GmbH Closes a further Financing Round with a Consortium of Investors". München/Martinried.

MIG AG was involved as lead investor together with OCCIDENT, First Capital Partner, Bayern Kapital and KfW. The financing round is open for new investors.


The German biotech firm advanceCOR GmbH has closed a further financing round with MIG AG, OCCIDENT, First Capital Partner, Bayern Kapital, and the KfW Bank with almost 3.9 million Euro. A second closing shall take place until end of 2020. New investors are welcome in the new financing round. advanceCOR develops personalised therapies for heart diseases. The main product Revacept® is a specific inhibitor of the pathologic, plaque-mediated thrombosis without affecting the essential endogenous blood homeostasis. With this financing round advanceCOR will organize and complete the partnering of the Phase II Revacept® project.

Two studies in patients with the most common and relevant heart diseases were successfully carried out. The study with symptomatic carotid artery stenosis and stroke showed promising results in ischemic strokes and overall critical events. A further patient study with Revacept® in patients with coronary artery disease and percutaneous intervention and stenting together with the German Centre of Heart and Circulatory Research (DZHK) has also been completed. The data on safety and efficacy are being currently evaluated. With the outcome of this study the anti-ischemic potency and the safety of Revacept® in the crucial indication coronary artery disease can be evaluated with the myocardial biomarker Troponin. The extend of myocardial damage can be reliably evaluated with this established biomarker.

With the results of these two clinicalstudies it might be shown for the first time that additional anti-ischemic protection in high-risk patients can be achieved without additional bleeding complications during surgical and catheter based interventions. This would be an important improvement of the therapeutic options to prevent thrombosis. Currently increased anti-thrombotic protection is always achieved at the cost of increased bleeding.

The lead investor in this financing round is the MIG AG, Munich. Co-investors in the consortium are OCCIDENT, Bayern Kapital, First Capital Partner, the founders and KfW Bank. For a second closing of up to 2 million Euro external investors are invited.

Both investors and founders of the company are delighted about the successful closing. “We are pleased that we could achieve such a financing round of almost 3.9 Mio Euro with our reliable investors in these difficult times of the Corona pandemic. With the capital we will be able to evaluate two crucial clinical studies. The aim is a transaction or cooperation of our lead project with a pharmaceutical company with our promising drug Revacept”, says Prof. Dr. Götz Münch, CEO and founder of advanceCOR.


About advanceCOR GmbH

advanceCOR GmbH is aprivate bio-pharmaceutical company in Martinsried/Munich, Germany. advanceCOR develops personalized therapies for cardiovascular diseases. advanceCOR has 3 different projects from proprietary scientific development.


About MIG AG

MIG Verwaltungs AG located in Munich is the initiator of the MIG-Funds, a series of venture-capital funds for private investors focusing on Germany, Austria and Switzerland. MIG was founded in 2004 by successful entrepreneurs and is managing more than 800 million Euro. MIG is one of the most active venture funds in German-speaking countries.
www.mig.ag


About OCCIDENT

OCCIDENT is an international, private investment company with offices in Zug, Switzerland and Munich, Germany. The aim of the company is the sustainable and meaningful asset management with the goal to positively contribute to society. Venture capital is the focus of the investment acitivities of OCCIDENT. The team has the understanding of a long-term enabler for innovative start-ups and founders with a vision. The company is focusing on deep tech in life sciences, digital and high-tech, always with the potential to improve quality of life for mankind.


About Bayern Kapital

Bayern Kapital GmbH (Bavarian Capital), located in Landshut, is an initiative of the Bavarian State government founded 1995 as 100% spin-off of the LfA Förderbank Bayern. Bayern Kapital provides as venture capital company of the free state of Bavaria investment capital for founders of innovative high-tech companies and young, innovative tech companies in Bavaria. Bayern Kapital currently manages twelve investment funds with a capital of about 385 million Euro. So far Bayern Kapital invested 320 million Euro investment capital in more than 275 innovative tech-based companies in different branches, such as life sciences, software & IT, basic & new materials, nanotechnology and ecology. In Bavaria more than7.500 jobs could be established in sustainable companies.
www.bayernkapital.de


For furtherinformationsplease contact:

advanceCORGmbH
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 Str. 102
D-81675 München
Telefon: +49-89/98 57-06
Email: info@mig.ag

   
Record changed: 2020-06-06

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