Advertisement

Picture EBD Group Bio-Europe 2017 BEU Berlin Germany November 600x60px
Document › Details

Immunic AG. (9/5/17). "Press Release: Immunic Therapeutics Adds New Investors and Completes Series A Financing Round of Total EUR 31.7 Million". Planegg-Martinsried.

Organisations Organisation Immunic AG
  Organisation 2 Fund+ N.V.
Products Product IMU-838 (Immunic)
  Product 2 venture capital
Index term Index term Immunic–SEVERAL: investment, 201609 financing round Series A €17.5m co-led by LSP + LifeCare Partners
Persons Person Vitt, Daniel (Immunic 201701– CEO before 4SC 1997–201612 CSO + Co-Founder before Univ Würzburg)
  Person 2 Neermann, Jörg (200701– Life Sciences Partners also Kaneas Capital founder before DVC before Atlas Venture)
     


> Omega and Fund+ broaden Immunic’s investor base and add an additional EUR 10 million (USD 12 million) in equity financing

> Series A financing round now completed with an overall investment size of EUR 31.7 million (USD 37.5 million) – resulting in one of Europe’s largest series A financing rounds in the biotech industry

> Funding dedicated to further clinical development of IMU-838 and IMU-366 in chronic inflammatory and autoimmune diseases

> Vincent Ossipow, PhD, CFA, and Jan Van den Bossche will join Immunic’s supervisory board


Immunic AG (Immunic Therapeutics), a clinical stage private biotech company in Martinsried near Munich, Germany, today announced that it has completed its Series A round of financing now totaling EUR 31.7 million of preferred stock financing. Omega Funds (Boston, MA, USA) and Fund+ (Leuven, Belgium) joined the existing international group of investors, led by LSP with an additional EUR 10 million in equity financing.

Immunic was founded in 2016 with the aim to bring promising drug development projects to clinical proof-of-concept. The company currently has two ongoing drug development programs – IMU-838 and IMU-366 – both in the field of Th17 and Th1 mediated chronic inflammatory and autoimmune diseases like ulcerative colitis, Crohn’s disease and psoriasis.

The increased amount of financing is dedicated to the accelerated phase II development of IMU-838 in inflammatory bowel diseases. The project is currently in advanced phase I tests and start of phase II in patients with ulcerative colitis is planned to commence in early 2018.

“We are very excited that two renowned international life science investment funds join our group of investors and add further ten million Euro of equity financing to our series A,” says Dr. Daniel Vitt, Immunic’s Chief Executive Officer, “this step is substantially accelerating the phase II development of IMU-838 in the field of IBD. The new investment also broadens our investor base and highlights the visibility of Immunic for US-based investors.”

Dr. Jörg Neermann, Partner at LSP and Chairman of Immunic’s supervisory board, also welcomed Omega and Fund+ as new investors and shareholders: “We are very delighted that with Omega and Fund+ two internationally highly renowned Investors joined our syndicate to contribute to the success of Immunic. With Vincent Ossipow and Jan Van den Bossche we welcome two very experienced life science experts in the supervisory board.”

“We are convinced that IMU-838 can be a best-in-class DHODH inhibitor and that this drug class will prove to be even more important in the future. We are equally impressed by Immunic’s ROR?t program, and therefore are proud to be involved in such an innovative company”, states Vincent Ossipow, PhD, CFA, who will join Immunic’s Supervisory Board.

“We are more than happy to join this strong syndicate of leading life sciences investors”, says Jan Van den Bossche, partner at Fund+ and designated member of the Immunic supervisory board, “We were most attracted by the experienced team of Immunic and the innovative science. This powerful combination will ensure that better treatment options will come available for chronic inflammatory diseases in the future.”


– Press release ends –


Further Information


About Immunic AG

Immunic AG is clinical stage biotech company founded in 2016 and focused on the development of immune modulators to block Th17 and Th1-mediated immune and autoimmune responses. The company’s two development programs include orally available, small molecule inhibitors of DHODH (IMU-838 program) and inverse agonists of ROR?t (IMU-366 program) relevant to diseases such as ulcerative colitis, Crohn’s disease and psoriasis. The final aim is to develop these drug candidates to clinical proof of concept. Immunic, with headquarters in Planegg-Martinsried near Munich, Germany, is privately held and supported by several renowned sector investors.

Further information: www.immunic-therapeutics.com


About Omega Funds

Omega Funds is a leading venture capital and growth equity investor within the broad life sciences sector. Founded in 2004, the firm is based in Boston and has a strategic relationship with NeoMed Management, a Jersey headquartered investment firm, which broadens its capabilities in Europe.

Further information: www.omegafunds.net


About Fund+

FUND+ is an open-ended Fund for long term equity investment in innovative life sciences companies with a focus on Belgium. The objective is to create sustainable shareholders value, contribute to the development of a leadership position in the Life Sciences sector for Belgium and generate a tangible, beneficial societal impact.

Further information: www.fundplus.be


Contacts:

Immunic AG

Dr. Daniel Vitt, CEO
Am Klopferspitz 19
82152 Planegg-Martinsried, Germany
T: +49 89 250079460
info@immunic.de

Fund+

Jan Van den Bossche, Partner
Groot-Begijnhof 60/001
3000 Leuven, Belgium
T +32 16 905004
info@fundplus.be

   
Record changed: 2017-09-18

Advertisement

Picture [LSF] Life-Sciences-France.com – The Business Web Portal 600x80px

More documents for Immunic AG


To subscribe to our free, monthly newsletter for the European life sciences, please send an e-mail to info@iito.de and simply fill the subject line with the word »LSE newsletter«

To get even more information, please take a look at our [gs] professional services offering and read the gene-sensor Product Flyer [PDF file]

Advertisement

Picture EBD Group Bio-Europe 2017 BEU Berlin Germany November 600x60px




» top

Advertisements

Picture [iito] Twitter iitoLifeScience Life Sciences Mass Spec 120x120px Picture EBD Group Bio-Europe 2017 BEU Berlin Germany November 120x80px Picture Eurasanté BioFIT 2017 Strasbourg France November 120x80px Picture EBD Group Bio-Europe 2017 BEU Berlin Germany November 120x80px Picture [LSE] Life-Sciences-Europe.com – The Business Web Portal 120x600px Banner Fairtec GmbH Solutions for Smarter Business Events Exhibitions 120x120px Picture [iito] Twitter iitoLifeScience Life Sciences Mass Spec 120x120px Picture Eurasanté BioFIT 2017 Strasbourg France November 120x80px Picture EBD Group Bio-Europe 2017 BEU Berlin Germany November 120x80px