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Neuway Pharma GmbH. (10/22/15). "Press Release: Neuway Pharma Extends First Round Financing to € 5.85 Million". Bonn.

Organisations Organisation Neuway Pharma GmbH
  Organisation 2 Wellington Partners Venture Capital GmbH
  Group Wellington Partners (Group)
Products Product drug delivery technology (drug formulation technology)
  Product 2 venture capital
Index terms Index term Neuway Pharma–SEVERAL: investment, 201510 financing round Series A Extension €3.15m led by Wellington Partners bringing Series A to €5.85m
  Index term 2 Neuway Pharma–Wellington Partners: investment, 201510 financing round Series A Extension totalling €3.15m incl €2m from Wellington Partners
Persons Person Manninga, Heiko (Neuway Pharma GmbH 201504 Managing Director)
  Person 2 Strohmenger, Rainer (Wellington Partners Venture Capital 201303 General Partner)
     


NEUWAY Pharma announced today the successful closing of a € 3.15 Mio Series A Extension financing round to a total of € 5.85 Million. The lead investor Wellington Partners provided € 2.0 Million of the acquired funds. Life Science Inkubator, Kreditanstalt für Wiederaufbau (KfW) and several private shareholders also participated in the financing round.

Besides the development of the proprietary CNS drug delivery platform, the financial resources allow NEUWAY the production of clinical trial material according to GMP. “I am pleased about the great confidence the investors and shareholders have in our company. Continued funding will accelerate the development of our technology and we will soon be able to start testing with GMP material”, says Dr. Heiko Manninga, co-founder and Managing Director of NEUWAY.

“Solid financial backing will enable NEUWAY to transform itself from a research company to a development company”, comments Dr. Rainer Strohmenger, General Partner at Wellington Partners, “ We believe in broad applicability of the CNS drug delivery platform of NEUWAY and we will do everything to support the company in their further development.”


About NEUWAY Pharma

NEUWAY Pharma GmbH, Bonn, Germany, is focusing on the preclinical and clinical development of innovative therapeutics for treatment of orphan brain diseases based on its proprietary CNS drug delivery platform. The company also intends to partner its drug delivery technology for other CNS indications.

NEUWAY had been founded in April 2014 as the first spin-off from Life Science Inkubator GmbH, Bonn, Germany, where it had been incubated for the last 4 years and supported with approx. € 2.3 million in research funding by the Federal Ministry of Education and Research. The company closed a series A financing round in May 2014 with a volume of € 2.7 million provided by a syndicate led by Wellington Partners.


Further information
NEUWAY Pharma GmbH:
Press Contact:
Christine Kuhn, +49-(0)228-522198-15, kuhn@neuway.de
www.neuway-pharma.de

NEUWAY Pharma GmbH, Ludwig-Erhard-Allee 2, 53175 Bonn

   
Record changed: 2017-04-02

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