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Financing › Details

ConoGenetix–SEVERAL: investment, 201204 financing round Series A €1.5m lead investor Mey Capital Matrix + co-investor BioM AG

 

Period Period 2012-04-23
Region Region Germany
Organisations Money taker ConoGenetix Biosciences GmbH
  Money source SEVERAL
Products Product peptide-based drug
  Product 2 venture capital
     

ConoGenetix Biosciences GmbH. (4/23/12). "Press Release: ConoGenetix Announces Series A Financing Round". Martinsried.

Today conoGenetix biosciences GmbH announced the closing of a Series A financing round with a volume of more than 1.5 million Euro. Lead Investor is Mey Capital Matrix GmbH, a family-office like Venture Capital Company. The existing investor BioM AG also participated in the round.

"The financing round is an important milestone for us and will enable us to develop our proprietary pipeline of anti-inflammatory peptides and to progress one of our drug candidates into clinical trials." said Dr. Andreas Klostermann, CEO of conoGenetix. Prof. Dr. Domdey, CEO of BioM AG, emphasized the high innovative potential of conoGenetix.


About conoGenetix biosciences GmbH

conoGenetix is a privately owned biopharmaceutical company focused on the development of new ion channel selective peptides. The company has developed an integrated technology platform that allows for the efficient discovery of drug leads that modulate ion channel targets - e.g. causatively involved in the generation of autoimmune diseases. Currently, conoGenetix runs a program targeting severe autoimmune disorders like Multiple Sclerosis (MS), Rheumatoid Arthritis (RA) and Vasculitis. Several peptides called cgtx-peptides within this program are in preclinical development. The leading indication for the cgtx-peptides is Vasculitis - a fatal disease strongly related to Rheumatoid Arthritis. Vasculitis is a rare disease and will be a market door opener for conoGenetix. A successful entry into phase I/IIa clinical trials at the end of this financing round will raise the valuation of the company significantly.

Market - Autoimmune diseases such as Vasculitis, Rheumatoid Arthritis, MS or Psoriasis are one of the major "Unmet medical needs". Vasculitis and Rheumatoid Arthritis have a prevalence between 0.5 - 1% of the worldwide population. In Europe more than 3.500.000 people are severely affected. The prevalence for Multiple Sclerosis is in the range of 0.15-0.25%. Both diseases induce direct costs for medical treatment in the billion Euro range and a multiple of this due to indirect socio-economic costs. Despite these facts effective therapeutic options are still limited.

   
Record changed: 2017-04-02

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