Gimv, Sofinnova in €43.5m round for Breath Therapeutics

Gimv used capital from its €150m Health and Care Fund. As well as Sofinnova, it is joined by Gilde Healthcare, a specialist investment firm focusing on healthcare. Breath Therapeutics is a spinout from Pari Pharma, which also supports the programme.

The company will use the financing to conduct phase III trials of its inhalation therapy in Europe and the US. It will also begin the process of submitting for market approval and preparing to commercialise.

Company
Breath Therapeutics is a recent spinout from Pari Pharma, based in Munich and Frankfurt. It develops an inhalation therapy for bronchiolitis obliterans syndrome in patients after lung transplantation. The company has taken three senior managers from Pari Pharma, including CEO Jens Stegemann. Pari Pharma will continue to be a strategic partner and technology licensee to the programme.

People
Gimv – Karl Nägler (partner).
Sofinnova Partners – Graziano Seghezzi (partner).
Gilde Healthcare – Arthur Franken (partner).
Pari Pharma – Martin Knoch (president).
Breath Therapeutics – Jens Stegemann (CEO).

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