LSP-HEF co-leads Curetis’s series-B extension

Molecular diagnostics technology business Qiagen was the other lead investor in the round.

All existing backers – aeris Capital, BioMed Invest, CD Venture, Forbion Capital Partners, HBM Partners, LSP, Roche Venture Fund, the management team, a consortium of Curetis employees, and business angels – participated in the extension.

LSP-HEF and Qiagen invested €7m, with the remaining €7.5m split between the other investors on a pro rata basis.

LSP closed its Health Economics Fund on €112m in March this year, exceeding its €100m target.

Curetis stated it was now financed "well into 2017", having raised a total of €63.5m. It plans to use the fresh capital to roll out its product commercially in Europe and to continue its FDA trial. Curetis is also in talks to gain commercialisation rights in the US and to expand into Europe.

Previous financing
In April 2009, Curetis received a two-year grant amounting to €500,000 from the Federal Ministry of Economics and Technology. It received a further €500,000 from the ministry two years later.

Curetis received €1.4m seed funding from aeris in 2008 and, in December 2009, LSP led the initial €18.5m series-A, alongside aeris, BioMed and KfW Bank. By May 2010, Curetis had raised €20m from the existing backers, as well as several business angels.

A year later, CD Venture invested a further €4.5m ahead of the start of the first trial of Curetis's IVD product.

In October 2011, Forbion and Roche co-led a €9.6m series-A extension, with further commitments from CD Venture and the management team. This brought the total amount raised in the series-A to €34.1m.

HBM led the original €12.5m series-B funding round in April 2013, investing €6m. The remaining €5.6m was committed by previous investors, bringing the total amount raised by Curetis to €49.1m.

Company
Founded in 2007 and headquartered in Holzgerlingen, Curetis develops products for diagnosing severe infectious diseases, such as pneumonia. The company's main product is the Unyvero platform, which detects a wide range of bacteria, fungi and antibiotic resistances from a single sample.

People
Rudy Dekeyser, managing partner at LSP-HEF, joins the Curetis supervisory board. Martin Potgeter is vice president of business development at Qiagen and takes an observer seat on the board. Oliver Schacht is CEO of Curetis.

Advisers
Company – CMS Hasche Sigle, Stefan-Ulrich Müller (Legal).

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