ImevaX GmbH
ImevaX secures EUR 7.5 million in Series A Financing to develop highly specific vaccine against Helicobacter pylori infections
ImevaX GmbH / Key word(s): Financing Press Release ImevaX secures EUR 7.5 million in Series A Financing to develop highly specific vaccine against Helicobacter pylori infections Munich (Germany), October 28, 2014: ImevaX GmbH, a specialist in vaccines against pathogens of chronic infectious diseases, announces today the completion of a EUR 7.5 million Series A financing round. The round was led by Wellington Partners. Co-lead investors were BioMedPartners with their BioMedInvest-II LP fund, EMBL Ventures and Santo Venture Capital. ImevaX is a 2014 spin-out from the Technische Universität München (TUM) and has been recently awarded a EUR 5.9 million financing from the GO-Bio Phase II program of the Federal Ministry of Education and Research (BMBF). The funds will be used to advance lead candidate IMX 101 through clinical trials before partnering. IMX 101 is a highly specific vaccine against Helicobacter pylori (H. pylori). Chronic infections of the stomach with H. pylori are the most common bacterial infections worldwide and lead to gastritis, stomach ulcers and potentially stomach cancer. Due to the high global infection rate and the decreasing efficacy of existing antibiotics against H. pylori plus the poor safety profile of these treatments, there exists a high medical need and a significant commercial interest in a H. pylori vaccine. “In light of the pandemic nature of H. pylori infections and the high medical need, it is essential to develop novel treatment strategies for this chronic disease,” said Professor Erich Schlick, General Partner at Wellington Partners and member of the Advisory Board of ImevaX GmbH. “This is why we are strongly committed to the ImevaX vaccine approach.” Dr Markus Hosang of BiomedPartners, Dr Jan Adams of EMBL Ventures and Dr Ulrich Granzer of Granzer Regulatory Consulting have also joined the Advisory Board of ImevaX. Volker Wedershoven, Chief Executive Officer of ImevaX GmbH since September 1, 2014 commented: “We are delighted to receive this strong support from such experienced life sciences investors; their knowledge and experience will be invaluable to the development of ImevaX and our pipeline of infectious diseases treatments. This round of financing will support the development of IMX 101 into the clinic and potentially into partnering discussions. In the meantime, we will also apply our technology platform to other selected infectious diseases.”
About Wellington Partners About BiomedPartners About EMBL Ventures About Santo Venture Capital
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