VC firms back series-B extension for Omeicos

Oscar Geen
06 October 2017

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A consortium of VC firms and life sciences investors has backed a series-B funding round extension for Berlin-based biopharmaceutical company Omeicos Therapeutics.

US-based Remiges Ventures led the financing with support from Vesalius Biocapital II, SMS Group, VC Fond Technologie Berlin, High-Tech Gründerfonds (HTGF) and KfW Group.

HTGF backed the company from its second fund, which held a final close on €301.5m in January 2013.

The fresh capital will be used to expand the company's technology into new fields and pre-clinically test a range of compounds. Omeicos has simultaneously announced the establishment of a US subsidiary in Cambridge, Massachusetts.

Previous funding
In April 2015, Vesalius led a €6.2m series-A funding round for Omeicos. IBB Beteiligungsgesellschaft and KfW also took part. Life-sciences-focused asset management company Ascenion also provided Omeicos with a €550,000 subsidy from its Spinnovator grant programme, which is backed by the German Ministry of Education and Research.

In March 2017, Vesalius led an €8.3m series-B round for the company with participation from all previous investors as well as SMS Group, the Falck Revocable Trust and management. This funding was to be used to start phase-I clinical trials of one of the compounds on 100 volunteers.

Company
Headquartered in Berlin, Omeicos develops a molecule focusing on the prevention and treatment of cardiovascular diseases. Founded in 2013, the pre-revenue business span out from the Max Delbrueck Center for Molecular Medicine.