Versant Ventures injects CHF 11m into Piqur

The series-A funding round totalled CHF 32m, provided by both new and existing backers. Piqur had also raised CHF 5m in seed funding, bringing the total amount invested in the company to CHF 37m.

This is Versant's second foray into a Basel-based pharmaceutical company, having taken part in a CHF 32m series-B funding round for drug developer Synosia Therapeutics in January 2009, before divesting its stake in February 2011.

Piqur will use the fresh capital to advance its lead compound PQR309 to its second stage of development, deliver proof-of-concept in the clinic, and for the discovery of additional drug candidates for oncology and non-oncology applications.

Company
Founded in August 2011 as a spinout from the University of Basel, Piqur focuses on the discovery and development of anti-cancer drugs based on lipid kinase (PI3K) and mTor inhibition. While mTor has already been clinically validated as a drug target, PI3K inhibition has achieved proof-of-concept status and is in clinical phase-III. The active ingredient PQR309 is currently in phase-I and results of the study should be released in Q4 2014.

People
Versant partner Guido Magni has joined Piqur's board of directors, while partner Gianni Gromo will act as an observer and adviser to the board. Vladimir Cmiljanovic is Piqur's CEO.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• DACH
• Healthcare
• Early-stage
• Switzerland