Austria's AFFiRiS GmbH Inks $10.4 Million Series A For Therapeutic Vaccine Devt

Vienna, April 6, 2006. Affiris (Vienna, Austria) raises EUR 8.5 million in series A round with MIG Funds (Munich, Germany) as sole investor. The milestone-based investment is split among three funds namely MIG Fonds 1 (EUR 1 million), MIG Fonds 3 and 4 (EUR 7.5 million). Affiris was founded by two of Austria's most experienced experts in the biotech field - Frank Mattner and Walter Schmidt - commencing its operations in April 2004. Richard Westmoreland completes the management team being responsible for finances. Schmidt furthermore is regarded as a pioneer of the new Austrian biotech scene as he together with Max L. Birnstiel and others founded Intercell in 1998, which is meanwhile listed on the Austrian Stock Exchange since February 2005.

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