Mig et al. add €9.5m to SuppreMol series-D round

Ellie Pullen
22 May 2013

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Mig AG and BioMed Partners have injected an additional €9.5m into Germany-based SuppreMol alongside a number of other backers in an extension of the company’s series-D funding round.

The original series-D for the biopharmaceutical company took place last September. This latest extension has brought the total amount raised for the round to €16m.

Investing alongside Mig and BioMed were Santo Holding GmbH, FCP Biotech Holding GmbH and German research organisation Max Planck Society.

The funding will be used to finance advancements in the phase II studies for the company's SM101 product. The company began phase IIa clinical studies of the product last year.

Mig tends to invest in companies that are focused on the life sciences or technology sectors and are based in German-speaking countries.

BioMed focuses on the healthcare, pharmaceutical and biotechnology sectors, investing CHF 1-10m per deal. BioMed originally invested in SuppreMol in 2008 via its BioMedInvest AG I fund.

Previous funding
Prior to the company's series-D round, Mig and BioMed acted as co-lead for SuppreMol's €15.5m series-C round, which saw existing investors Santo Holding, KfW Mittelstandsbank, Bayern Kapital GmbH and the Max Planck Society inject additional capital, along with new investor FCP Biotech Holding.

The company's series-B round saw Mig and BioMed first inject capital into SuppreMol, as part of a €15.7m financing round alongside Santo, ZetaCube, KfW, Bayern Kapital and the Max Planck Society.

According to unquote" data, SuppreMol's series-A funding round took place in 2006 and was led by ZetaCube, which invested €1.5m in the company. KfW and Bayern Kapital also took part in this first round, investing €1.5m and €1m respectively.

Company
SuppreMol was founded in Martinsried in 2002 by a team of protein crystallography experts from the Max Planck Institute of Biochemistry. The company currently employs 18 staff.

SuppreMol develops therapeutic treatments for autoimmune and allergic diseases. It is also involved in the development of soluble Fc-gamma receptors, which are recombinant therapeutic proteins that have potential immunoregulatory properties. Fc receptors are proteins found on the surface of certain cells that aid the immune system. Fc-gamma receptors belong to the immunoglobulin family, a group of soluble cell proteins that contribute to the adhesion processes of cells.

The biopharmaceutical company's current trialling product, SM101, is a recombinant human soluble Fc-gamma receptor IIB. SuppreMol is developing the product to treat systemic lupus erythematosus (SLE) – a chronic inflammatory autoimmune disease that can affect multiple organs and lead to organ failure – and primary immune thrombocytophenia (ITP) – a serious bleeding condition brought on by auto-antibodies destroying the body's platelets and preventing blood from clotting properly.

People
Uwe Jacob, Peter Sondermann and Robert Huber are the founders of SuppreMol. The company's CEO is Klaus Schollmeier.