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Covagen Extends Financing Round And Adds Edmond De Rothschild Investment Partners (Edrip) To Investor Syndicate


1/8/2010 11:38:19 AM

Zurich, Switzerland, January 8, 2010 Covagen, an ETH Zurich spin-off company pioneering the development of a novel class of protein therapeutics (Fynomers), announced today the closing of a financing round with its existing shareholder Ventech and Edmond de Rothschild Investment Partners (EdRIP), who are joining as new investors. Gilles Nobécourt will join Covagen’s Board of Directors as representative of EdRIP. After fifteen years of holding various positions in the pharmaceutical industry Gilles Nobécourt joined the Life Science Team of EdRIP in 2002.

“We are very pleased that we could attract additional funding and add EdRIP to Covagen’s investor syndicate. The additional investment provided by Ventech and EdRIP validates the interest in our technology and therapeutic programs”, said Dr. Julian Bertschinger, Chief Executive Officer of Covagen.

For further details, please contact:

Covagen AG

Dr. Julian Bertschinger, CEO

Tel: +41 (0) 44 635 60 33

julian.bertschinger@covagen.com

About Covagen:

Covagen develops next generation protein drugs for the treatment of inflammatory diseases and cancer by using its proprietary protein engineering technology, which has been developed at ETH Zurich (Switzerland). Covagen's innovative platform comprises the recently developed Covalent DNA Display technology and a novel single domain protein scaffold, which - in analogy to antibodies - can be engineered to yield high affinity binding proteins called Fynomers that can be used for therapeutic applications. In addition, the modular structure of Covagen's Fynomers and its favorable biophysical properties potentially allow for treatment modalities that are difficult or impossible to be exploited with antibodies. For more information, please visit http://www.covagen.com.

Read at BioSpace.com

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