Ganymed Pharmaceuticals AG (Germany) - Oct 2007

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01 October 2007

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Venture Incubator Partners has led a €37.2m series-C financing round in German biotech company GANYMED Pharmaceuticals AG. The round, which was initially closed in June 2007, was significantly oversubscribed with Nextech Venture, Future Capital, Ingro Finanz, LBBW, MIG, ONC Partners and Varuma, as well as consortium of mainly Swiss private investors, also committing to the round. ATS Beteiligungsverwaltung GmbH, the family office of industrial family Strüngmann, contributed a further €3.5m in a second closing held in October.

The new funding will be used to advance GANYMED’s lead candidate GC182 through Phase I/IIa clinical testing in gastric cancer and further expand and develop its pipeline of unique, cancer-specific targets and antibodies.

Previously, GANYMED raised €8.85m and €6.35m in two separate financing rounds led by Nextech Venture, which also included German and Swiss venture capital companies as well as private investors (September 2002, page 22). The total value of equity financing raised by the company is now €52.4m.

Company

GANYMED Pharmaceuticals AG was founded in 2001 as a spin-off from the universities of Mainz and Zurich. The privately held biotech company develops highly specific and effective monoclonal antibody therapeutics against solid cancers. It has established a product development platform to create ideal antibodies (IMABs) against tumour-specific and selective targets located on the cell surface. GANYMED’s lead product, GC182 iMAB, is in preclinical development for stomach, esphageal, pancreatic and lung cancers. It is scheduled to enter clinical trials in 2008; first indication will be gastric cancer. The company’s second iMAB project focuses on breast

People

Arnd Kaltofen represented VI Partners on this investment.

Sourced from: 0 unquote" 93 (Nov 2007)