Activaero Raises € 5.0 Million ($ 6.8 Million) In a Second Closing Series a Round Led By LSP
GEMÜNDEN / Wohra, Germany--(BUSINESS WIRE)--Activaero GmbH, a technology leader in controlled breathing inhalation devices, today announced that it has closed a further financing round of € 5.0 million ($ 6.8 million). LSP Life Sciences Partners of Amsterdam, the Netherlands, committed € 3.5 million and were joined by the existing investors BioMedPartners AG (advising BioMedInvest LP II), VI Partners AG, Abalis Finance AG, Vesalius Biocapital I SICAR S.A., MedVenture Partners GmbH and existing shareholders who contributed further € 1.5 million. The transaction was advised by MedVenture Partners GmbH.
Activaero will use the proceeds to further develop its proprietary pulmonary drug delivery technology and to establish further clinical activities.
Jörg Neermann, Partner at LSP, will represent LSP in Activaero's supervisory board. He commented: "Our investment is based on the excellent progress made by Activaero and its team since the first financing. The advancements within the current study on severe asthma are highly exciting. We are convinced of the growth potential Activaero is unfolding with its proprietary clinical programs and the impact it's controlled pulmonary delivery technology will have on the treatment of various pulmonary diseases."
Gerhard Scheuch, founder and CEO of Activaero said: "LSP was chosen as a top tier life science investor that will support us and our strategy to provide innovative devices and therapies to patients with severe lung diseases. We are happy to have them on board and we welcome Jörg Neermann to our supervisory board."
Activaero is the world leader in the design of controlled breathing drug delivery technologies that maximize the efficiency and precision of inhaled drugs. These innovative technologies enable safer, more cost-efficient, and effective options for inhaled treatments of respiratory diseases and are available for clinical trials and pharma partnerships. Under the trade mark of AKITA® Activaero is developing and producing inhalation systems which enable the use of FAVORITE in the therapy of pulmonary diseases and the development of new inhalant drugs. Beyond that, Activaero is a center of excellence in aerosol medicine and supports pharma and biotech companies with its technology and services. Activaero GmbH is located in Gemuenden/Wohra and Munich (Germany) and Dublin, Ohio (USA).
LSP (Life Sciences Partners) is a leading independent European investment firm, providing financing for private and public life-science companies. Since the late 1980s, LSP's management has invested in a large number of highly innovative enterprises, many of which have grown to become leaders of the global life-science industry. For example, LSP was a founding investor in Movetis, Crucell, DNage, Qiagen, Rhein Biotech and Pharming. With over EUR 500 million under management and offices in Amsterdam, Munich and Boston, LSP is one of Europe's largest and most experienced specialist life-science investors.