Apogenix Raises EUR 27.5m in Series B Financing Round
HEIDELBERG, Germany, April 30, 2008 - Apogenix GmbH, a biopharmaceutical company developing novel drugs based on the targeted modulation of apoptosis (programmed cell death), today announced the closing of its second financing round. The financing round totals EUR 27.5m (approx. USD 44m) and will be dedicated to the development of ApogenixÂ´ research and development programs for novel therapeutics to treat diseases such as â€œacute Graft-versus-Host Diseaseâ€ and cancer.Â
dievini Hopp BioTech holding GmbH & Co. KG, the investment company of SAP co-founder Dietmar Hopp, acted as lead investor in this series B round. Moreover, the German Cancer Research Center (DKFZ) has the option to invest an additional EUR 0.5m under the terms of the investment agreement, potentially increasing the total amount of this financing round to EUR 28m. Such an investment provides the DKFZ with a first-time opportunity to directly invest in a company focusing on the treatment of cancer and related diseases.
â€Since our initial investment in November 2005, Apogenix has made significant progress with its development programs,â€ said Dr Friedrich von Bohlen, Chairman of the Advisory Board and Managing Director of dievini Hopp BioTech holding GmbH & Co. KG. "We are confident that Apogenix will use the new funds to further successfully develop its product programs of novel protein therapeutics based on the modulation of apoptosis. We are also excited about the good progress made with APG101 which is expected to enter clinical phase I very soon.â€
â€This latest financing round will expand our cash reach well into 2010,â€ said Dr Thomas HÃ¶ger, CEO of Apogenix. "By then, our goal is to reach clinical proof-of-concept with our lead project APG101. In addition, we plan to carry out the preclinical program allowing Apogenix to initiate clinical trials with a second compound of our pipeline.â€
Dr Josef Puchta, Member of the Management Board of the German Cancer Research Center, added, â€As a spin-out from the German Cancer Research Center, we believe that Apogenix is an ideal model of translating research findings of our scientists into novel treatment options for severely ill people. We think that an option for a cash investment provides our institution with considerable upside potential and also validates the commercial relevance of our R&D collaborations with biotech companies.â€
Apogenix is a biopharmaceutical company developing novel drugs based on the targeted modulation of apoptosis (programmed cell death).
Apoptosis is a natural and highly controlled mechanism to clear the body of old, damaged or abnormally transformed cells. In many disease indications, this process has become out of balance causing either an uncontrolled removal of healthy cells and tissue (e. g. acute Graft- versus-Host Disease, stroke and spinal cord injuries) or a lack of removal of damaged and abnormal cells (e.g. in case of tumors).
Apogenix is a spin-out from the German Cancer Research Center (DKFZ), and is based in Heidelberg, Germany. In 2005, the company has received EUR 15m in a Series A round from the family of the renowned biotech investor and SAP co-founder Dietmar Hopp.