SWITZERLAND - Essex leads CHF 46m Molecular Partners investment
Essex Woodland Health Ventures has led a CHF 46m Series-B funding round for biotech company Molecular Partners, alongside the businesses existing investors including Index Ventures, Johnson & Johnson Development Corporation, BB Biotech Ventures and Endeavour.
This takes the total amount raised by Molecular Partners since 2007 to CHF 64.5m.
Molecular Partners is a biotech company focusing on the commercialization of a novel class of biological drugs known as DARPins. The company uses this class of protein therapeutics to create medicines for diseases with unmet medical need and to improve existing therapies.
The new funds will enable Molecular Partners to advance its lead compound into clinical proof of concept studies, but will also support the development of Molecular Partners' pipeline of preclinical DARPin candidates.
In August 2007, Index Venturs led a series-A funding round totalling CHF 18.5m. The investment was supported by BB Biotech Ventures, Johnson & Johnson Development Corporation and Endeavour.
Molecular Partners is a spin-off company of the University of Zürich and is based in Zürich-Schlieren.
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