Germany : Dentons advises Immunic on completion of one of the largest series A financing rounds in the European biotech sector.
Global law firm Dentons has advised biotech company Immunic AG on the 10 million investment by two new funds, Omega Funds and Fund+. They joined the existing international group of investors led by Dutch VC firm LSP. The series A financing round, which is now completed, has raised an overall investment of 31.7 million, one of the largest ever series A financing rounds in Europes biotech industry.
The additional financing will be used to enhance and accelerate the drug development programs IMU-838 and IMU-366. Both drugs will serve the treatment of chronic inflammatory and autoimmune diseases like ulcerative colitis, Crohns disease and psoriasis.
Immunic, headquartered in the biotech-hub of Planegg-Martinsried near Munich, was founded in April 2016 and develops promising drugs up to the first proof of their clinical efficacy. The company focuses, in particular, on immunomodulatory drugs to be taken as tablets.
Omega Funds is a leading venture capital and growth equity investor within the life sciences sector. Founded in 2004, the firm is based in Boston, USA. FUND+, based in Belgium, is an open-ended fund for long term equity investment in innovative life sciences companies.
Other investors that participated in Immunics first (September 2016) and second closing (Q1, 2017) include LSP, LCP, HTGF, Bayern Kapital and other private investors.
A Dentons team, led by Munich partner Thomas Strassner, advised Immunic on this transaction. Strassner has advised Immunic since its foundation, including the first and second closing of the series A financing round.
[c] 2017 Al Bawaba (Albawaba.com) Provided by SyndiGate Media Inc. ( Syndigate.info ).
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|Date:||Sep 9, 2017|
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