Wellington leads Neuway Pharma series-A

Wellington invested via its Wellington Partners IV Life Sciences Fund, which closed in September 2013 on €85m.

The spinout had been in the planning for the last 12 months after LSI approached Wellington. The private equity firm worked with the founders to structure the spinout and shape the business plan until the firm became a separate company in April 2014.

The project had been incubated within LSI since 2010 and supported with approximately €2.3m in research funding by the Federal Ministry of Education and Research.

LSI remains one of the chief shareholders in the company, alongside Heiko Manninga, who becomes managing director. The incubator develops early-stage research projects in biotechnology, pharmacology and medical technology to financial maturity and marketability.

Company
Headquartered in Bonn, Neuway focuses on the pre-clinical and clinical development of therapeutic treatment of orphan brain diseases. It uses a central nervous system (CNS) drug delivery platform and intends to partner its technology with other CNS indications.

CNS drugs transport molecules through the blood brain barrier and into the neurons and cells of the CNS, which Neuway states will treat life-threatening brain diseases and genetic diseases more effectively.

People
Heiko Manninga is managing director of Neuway. Joerg Fregien is managing director of LSI. Rainer Strohmenger and Erich Schlick are general partners at Wellington and join the Neuway advisory board.

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• Topics
• Early-stage
• DACH
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• Germany
• Wellington Partners