ImevaX GmbH
ImevaX welcomes KfW to investor syndicate in second closing of Series A financing
ImevaX GmbH / Key word(s): Investment Press Release ImevaX welcomes KfW to investor syndicate in second closing of Series A financing Munich (Germany), March 02, 2015: ImevaX GmbH, a specialist in vaccines against pathogens of chronic infectious diseases, especially in H. pylori infections, announced today that KfW has joined the company’s 2014 Series A investor syndicate through a second closing of the financing. The KfW investment is based on the ERP Start Fund. This Fund provides private equity for young, innovative and technology-based companies with particular growth opportunities. Not only are research and product development projects financed, but also the market launch of new products, processes and services. The investments are provided in conjunction with a lead investor on market conditions. ImevaX completed the first closing of its Series A financing at EUR 7.5 million in October 2014, led by Wellington Partners. Co-lead investors in the first closing were BioMedPartners from the BioMedInvest-II LP fund, EMBL Ventures and Santo Venture Capital. ImevaX is a 2014 spin-out from the Technische Universität München (TUM) and was awarded a EUR 5.9 million financing from the GO-Bio Phase II program of the Federal Ministry of Education and Research (BMBF) in September 2014. The funds are being used to advance lead candidate IMX101 through clinical trials before licensing. IMX101 is a highly specific vaccine against Helicobacter pylori (H. pylori). Chronic H. pylori infections of the stomach 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. Volker Wedershoven, Chief Executive Officer of ImevaX GmbH, commented: “We are pleased that with KfW another experienced investor has joined the consortium of life science investors who support us in developing our pipeline of novel treatments to help fight the consequences of infectious diseases. The financing is an essential contribution to the development of our lead candidate IMX101 through first clinical proof of efficacy studies and potentially into partnering discussions.” About ImevaX: About KfW: For further information, please contact:
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