HTGF backs €7m seed round for Zimmer Biotech
High-Tech Gründerfonds (HTGF) has invested in a €7m seed round for the spin-out of Zimmer Biotech along with the company's parent, medical device producer Zimmer Medizinsysteme.
Zimmer Biotech will focus on developing a skin cancer drug based on the compound 5-Aminolevulinic acid.
The spinout has put a quality-management system in place to gain the necessary legal accreditation and aims to test its drug on humans in clinical trials starting in 2020.
Parent company Zimmer Medizinsysteme is a medical device producer based in Neu-Ulm. It employs 250 people and markets its products in 80 countries.
Company
Zimmer Medizinsysteme began development of a drug based on the compound 5-Aminolevulinic acid in 2012 but the spinout was not officially established until October 2016.
Zimmer Biotech develops Alevin Deep, a drug for use in the treatment of actinic keratosis, which can lead to skin cancer. The company says it will reduce treatment time and the pain associated with the treatment.
People
High-Tech Gründerfonds – Frank Hensel (senior investment manager).
Zimmer Medizinsysteme – Armin Zimmer (president).
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