Forbion et al. back Rigontec's €4.8m series-A

The total invested in the first funding round amounts to €14.25m, following a €9.45m initial series-A in October last year. The two new backers join Wellington Partners, Boehringer Ingelheim Venture Fund, NRW Bank and High-Tech Gründerfonds.

The fresh capital will be used to conduct proof-of-concept studies for Rigontec's lead drug candidate, RGT100.

Forbion stated it had been following Rigontec's work for some time and chose to invest because the company's therapy promises personalised cancer treatment. The GP is a dedicated life sciences venture capital firm investing in drug discovery and development companies. It is currently investing via its FCF III vehicle.

Company
Launched in January 2014 as a spinout of the Institute for Clinical Chemistry and Clinical Pharmacology at the University of Bonn, Rigontec develops ribonucleic acid (RNA)-based immunotherapeutics for the treatment of cancer and viral diseases.

The treatment works by mimicking a viral infection, inducing anti-tumour immunity. The Rigontec team comprises six people.

People
Holger Reithinger, general partner at Forbion, and Sunstone partner Sten Verland joined Rigontec's board of directors. Christian Schetter is CEO of Rigontec.

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