NeoMed leads €15m round for InDex Pharmaceuticals

NeoMed provided €3.5m from its fifth fund, while existing shareholders including SEB Venture Capital and Industrifonden contributed 75% of the round in exchange for a 12% stake in the business.

The capital will be used for financing the clinical development of Kappaproct, with plans for further follow-on clinical trials. Following expansion in Europe and in particular the German market, there is a long term plan to roll out the business in the US. NeoMed expects InDex Pharmaceuticals to go public or receive further financing, which NeoMed would be open to providing in future rounds.

Founded in 1997, NeoMed has established five healthcare-focused funds to date.

Company
InDex Pharmaceuticals is an immunology-focused biopharmaceutical company. It has developed two products from its in-house, proprietary technology platform: Kappaproct, for the treatment of refractory ulcerative colitis; and DIMS 9054, a development candidate for the treatment of resistant pulmonary inflammation.

The company employs less than 20 people.

People
Erik Amble, managing partner and founder of NeoMed, has been appointed new member of the company's board of directors in connection with the deal.

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