HTGF invests in AudioCure Pharma
High-Tech Gründerfonds (HTGF) and business angel Dr Schumacher have provided German drugs candidate developer AudioCure Pharma with seed funding.
HTGF typically invests €500,000 in first backings and allocates up to €1.5m for further funding.
The investment will concentrate on the development of a treatment for acute and chronic hearing impairments.
Company
AudioCure Pharma was founded in Berlin in August 2010 by university professor and doctor of medicine Hans Rommelspacher.
Rommelspacher has been studying the primary compound to be used in the drug for 20 years. In the past few years he embarked on extensive structure-activity experiments and proved the therapeutic potential of the drug.
AudioCure Pharma is part of the NeuroPro Alliance research network alongside NanoPet Pharma Berlin and Wildau Technical University of Applied Sciences. The network is partially financed by the German Federal Ministry of Education and Research.
People
Dr Martin Pfister is an investment manager at HTGF.
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