Pieris raises fifth funding round

OrbiMed, Global Life Science Ventures, BioM Venture Capital, BayTech Venture Capital and Ally Bridge Group also took part in the round.

Ally Bridge Group is a healthcare-focused investment group based in Hong Kong and the US.

Previous funding
Pieris first raised around €900,000 in seed funding in 2001 from BioM and TransConnect. It raised a further €12m in November 2002 from its existing backers, led by Global Life Science and Gilde. BayTech and ABN Amro Capital also took part.

A series-A extension of €5m was raised in November 2006 from existing backers and new investors AAC Capital Partners, KfW Bank, Forbion Capial Partners and Bayern Kapital.

March 2008 saw the closing of the company's series-B funding round, raising €25m. OrbiMed Advisors led the round, together with Novo Nordisk through its Biotech Fund. All existing investors also participated in the round.

Company
Headquartered in Munich, Pieris is a clinical-stage biotechnology company focusing on drug-based treatments for patients suffering from cancer, severe asthma and anaemia. It span out of the Technical University of Munich in 2001.

Its Anticalin technology uses human proteins to bind, store and transport a variety of molecules. Pieris has a catalogue of 100 billion Anticalins to bind to target molecules.

People
Arne Skerra and Claus Schalper co-founded Pieris.

Advisers
Equity – Morrison Foerster, Thomas Chou, Dirk Besse, Robin Eyben, Sebastian Kost, Matthew Lau (Legal).

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• Topics
• DACH
• Early-stage
• Healthcare
• Germany
• Gilde Investment Management