ZURICH-SCHLIEREN, SWITZERLAND--(Marketwire - November 12, 2010) -
Delenex Therapeutics AG, a
Swiss biotech company developing therapeutic antibody fragments targeting
serious medical diseases with high unmet need, has announced the closing of
its
Series A venture equity investment round securing CHF 13.5 million (USD 14
million, EUR 10 million).
The initial financing round was led by SV Life Sciences, HBM BioCapital,
HBM
BioVentures, BioMedInvest and VI Partners, all leading venture capital
firms in
the biotech industry.
Delenex is a biotech company that was spun out of ESBATech AG in September
2009
when the company with its ophthalmology business was acquired by Alcon,
Inc.
Delenex received access to all rights to the further development,
application
and royalty-free commercialisation of the clinically validated ESBATech
antibody
technology and products in all fields outside ophthalmology.
The new funding will enable Delenex Therapeutics to develop best-in-class
therapeutic antibody fragments for diseases with high unmet medical need.
The
primary focus will be on local and/or topical therapies for central nervous
system (CNS), inflammatory, respiratory and dermatologic disorders. Given
the
already validated status of its technology, the company plans to initiate
additional clinical trials within the near future.
Delenex operates out of its own labs and offices in Zürich-Schlieren.
The
management team consists of Thomas Hecht MD (Executive Chairman), Titus
Kretzschmar PhD (Chief Scientific Officer) and Hamish Cameron MD (Business
Development). Collectively, the team has extensive experience in leading
successful venture and product development companies.
Thomas Hecht, Executive Chairman commented: "We are delighted to have
received
such strong support from blue chip investors. Their commitment - as former
investors in ESBATech - validates our strong technology platform and
business
strategy. Thanks to their long-standing track record and in-depth
understanding
of the antibody field, we get much more than financial backing."
Graham Boulnois, PhD, Partner with SV Life Sciences commented: "Delenex
Therapeutics now has an attractive, clinically validated antibody fragment
platform with a strong intellectual property position. The technology is an
excellent fit into the therapeutic antibody space. It will deliver a
pipeline of
commercially attractive new products based on highly stable antibody
fragments
with striking drug-like properties derived from fully human scaffolds. In
addition, it provides significant high-value partnering opportunities
across
multiple therapeutic areas. We are excited to be working with the company
and
the other investors to build another leading antibody company on the back
of the
ESBATech heritage."
For further information about Delenex and its technology, please visit
www.delenex.com
____________________________
About SV Life Sciences
SV Life Sciences is a leading international life sciences venture capital
firm.
SVLS affiliated funds have been investing in life sciences companies since
the
early 1980s and the firm closed its first dedicated life sciences fund in
1994.
The SVLS team manages five venture capital funds and a publicly traded
investment trust with approximately $2 billion of capital under management.
The
firm employs a diversified strategy within life sciences in order to
selectively
capitalize on an expanding opportunity in biotech, medical devices and
health-
care services. SVLS has offices in Boston, London and San Francisco.
www.svlsa.com
About HBM Partners
HBM Partners is among the global leaders in life science-focused investing
with
approximately USD 1 billion under management. HBM's advisory business was
founded with the vision to invest across the life cycle of healthcare
companies,
from venture-backed early-stage all the way to listed companies. HBM
BioVentures
and HBM BioCapital are among the funds managed by HBM Partners. Since 2001,
HBM
Partners has realized 38 IPOs and trade sales from its portfolios of
healthcare
and life sciences companies. www.hbmpartners.com
About BioMedInvest
BioMedInvest AG I is a healthcare-dedicated venture capital fund based in
Switzerland, providing private equity financing to early- to mid-stage
companies
in Switzerland and neighbouring regions (Alpine Rim). BioMedInvest
currently
invests out of Fund I, which has a size of CHF 100 million and was closed
in
2003. The investment strategy allows for investments in start-up companies
looking for first-round funding through to later-stage or spin-off
companies
focused on product development in the biotechnology, emerging
pharmaceuticals,
healthcare and medical technology sectors. The amount to invest over the
life
time of portfolio companies is about CHF 1-10 million. BioMedInvest
typically
plays the lead or co-lead investor role structuring the transaction and
syndicating with other venture capital firms. www.biomedvc.com
About VI Partners
VI Partners is a Swiss venture capital firm that supports university spin-
offs
as well as other promising start-up companies with capital, coaching,
consulting
and networks. Via the current "Venture Incubator" fund, VI Partners invests
"Smart Money" to develop promising technology-based ideas for products and
services into successful businesses. Venture Incubator was established by
McKinsey & Company and the Swiss Federal Institute of Technology in
Zürich
(ETHZ), and started operations in 2001. It now manages an investment fund
of CHF
101 million. Its investors represent 10 blue-chip enterprises from industry
and
finance. www.vipartners.ch
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[HUG#1461470]
Press Release (PDF):
http://hugin.info/144623/R/1461470/400678.pdf
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Source: Delenex Therapeutics AG via Thomson Reuters ONE
