AUSTRIA – MIG & EdRIP co-lead EUR 4m PDC Biotech round

Vienna-based PDC Biotech is a biopharmaceutical development company focused on women's health. PDC is developing a compound which targets the prostaglandin F2a receptor for the treatment of pre-term labour and primary dysmenorrhea.

Proceeds from the financing will be used to complete preclinical work and the first clinical study of the company's lead compound, PDC31. The company is expecting to conclude the remaining preclinical work early in mid 2010 and then conduct the Phase I/II trial.

The company was previously awarded EUR 1m in seed funding from the Austria Wirtschaftsservice (AWS) and a grant of EUR 517,000 from the Zentrum für Innovation und Technologie. In total, the company has raised over EUR 5.56m in funding.

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• Topics
• Early-stage
• DACH