Wales Life Sciences Fund leads €12m series-B for Apitope
Welsh VC Wales Life Sciences Fund (WLSF) has led a €12m series-B investment in Welsh-Belgian drug discovery and development company Apitope, alongside existing investors.
Previous investors that participated in the round include Vesalius Biocapital, LRM, PMV and Wyvern, while shareholder the Wellcome Trust did not take part.
The investment will allow Apitope to continue funding development and clinical trials of its products, as well as finance the relocation of its UK office to Wales.
Previous funding
Apitope first raised funding in October 2008, when Vesalius, LRM, Vinnof, the University of Hasselt and Innovator Capital took part in a €10m series-A round.
Company
Founded in 2002, Apitope is a therapeutic vaccines developer focusing on treating autoimmune and allergic diseases.
The company will be headquartered in Cardiff, moving from Bristol, and have an office in Hasselt, Belgium.
People
Keith Martin is the CEO of Apitope and Brening Preest is an investment director at WLSF, who will join Apitope's board as part of the deal.
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