Vasopharm raises €20m from Entrepreneurs Fund et al.

Heidelberg Capital Private Equity, UK-based Fort Rock Capital, Bayern Kapital and Hanseatic Asset Management also participated in the round.

The developer will use the fresh capital for the European phase-III study of its lead product VAS 203, which will be used to treat severe traumatic brain injuries. The drug developer finished the clinical trials and expects to treat its first patient in H1 2016.

British VC Entrepreneurs Fund is focused on western European life sciences and technology startups, typically investing €1-2m at the start and up to €5m over the lifespan of an investment.

Previous funding
In May 2009, EMBL Ventures led a €4.5m series-D round in Vasopharm, with HeidelbergCapital, Entrepreneurs Fund and KfW participating. The series-D enabled the company to proceed with phase-IIa clinical trials for its therapeutic compound VAS 203.

In August 2001, Vasopharm received €6.5m from 3i, Future Capital and TBG; in January 2006 it raised €10m from 3i and Entrepreneurs Fund; and in February 2008 it received €3m from Heidelberg Capital, Entrepreneurs Fund and KfW.

HeidelbergCapital became a backer of Vasopharm at the end of 2007, when 3i sold 23 minority stakes in German firms to the secondaries direct specialist.

Company
Vasopharm was founded as a spin-off from the University of Würzburg medical school in July 1998. Employing a staff of 20, the pharmaceutical company is dedicated to the discovery and development of therapeutics for the treatment of cerebro- and cardio-vascular diseases and their consequences.

Vasopharm stated the combined US and European markets for an effective medication for the treatment of cranio-cerebral trauma exceeds $1bn.

People
Vasopharm – Christian Wandersee (CEO).
Fort Rock Capital – Mario Alberto Accardi (venture partner).

Advisers
Company – P+P Pöllath + Partners (Legal).
Equit (Entrepreneurs Fund, Hanseatic Asset Management LBG) – Jones Day (Legal).
Equity (Fort Rock) – Hogan Lovells (Legal).
Equity (Bayern Capital) – Weitnauer Rechtsanwaelte (Legal).

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