BioVisioN AG Sells Its Subsidiary ImVisioN GmbH To Nextech Venture
10/19/2005 5:10:38 PM
HANOVER, Germany--(BUSINESS WIRE)--May 3, 2005--
German biotech company BioVisioN AG has sold its spin-off, ImVisioN GmbH, to the Swiss based life science investment firm Nextech Venture, L.P.
ImVisioN focuses on the development of novel immunotherapeutics based on its proprietary MAT (Modular-Antigen-Transport) technology to treat allergic diseases, (chronic) infectious diseases and possibly cancer. The technology was developed by BioVisioN together with its partner the Swiss Institute of Allergy and Asthma Research (SIAF). This new immunization concept is based on an improved antigen presentation within the immune system. The company's lead product, IVN201, an immunotherapeutic to treat cat dander allergy is currently undergoing late preclinical development and is expected to enter clinical trials early 2006.
Nextech Venture's CEO and founding partner, Dr. Alfred Scheidegger, emphasizes the importance of ImVisioN: "Only innovative drugs can answer our society health needs and only they can provide risk-taking investors with attractive returns in early stage life science. It will be ImVisioN's challenge to fully exploit the potential of MAT - developing a portfolio of innovative drugs that cannot only change the way we treat allergy but even the way we immunize. If MAT works, we will see the next blockbuster here!"
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