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GANYMED Pharmaceuticals AG Closes EUR 65 M Financing Round


11/18/2008 6:29:42 AM

November 18, 2008, Mainz - GANYMED Pharmaceuticals AG today announced the closing of a EUR 65 M financing round. The round was led by ATS Beteiligungsverwaltung GmbH, Munich, which was joined in the financing by Future Capital AG in Frankfurt, MIG Verwaltungs AG in Munich and private investors.

This funding provides GANYMED with adequate means to rapidly develop its broad antibody pipeline directed against solid tumors. Clinical trials for the monoclonal antibody Claudiximab (iMAB362) against metastatic gastro-esophageal carcinoma will commence with a multicentre Phase Ib study in Germany in Q4 2008. A further five antibody projects are in preclinical development for breast, colorectal, lung, pancreatic and prostate cancers.

“We are really delighted by the trust and the very substantial involvement of our investors in GANYMED,” said Chief Executive & Chief Scientific Officer Dr. Oezlem Tuereci. “The funds will not only support the clinical tests of our first antibody drug, but they will also allow us to considerably speed up and broaden our pipeline of highly cancer cell specific therapeutic antibodies.”

"GANYMED has an extremely promising antibody pipeline and is led by a professional management team. The strong support by our investors is a solid base for us to proceed with implementing the Company’s broad clinical development strategy”, explained Prof Dr Dr h c Rolf Krebs, Chairman of the supervisory board of GANYMED.

"This financing round emphasises our profound confidence in GANYMED’s team and the Company’s broad pipeline” explained Helmut Jeggle, spokesperson of ATS. “Because of the potential we see in the Company this is the appropriate step for a long term strategic positioning of GANYMED.”

About GANYMED

GANYMED Pharmaceuticals AG is a leading biopharmaceutical company offering smart antibody therapeutics for ideal targets in solid cancers. The Company’s discovery engine is one of the most powerful integrated solutions to building an antibody cancer pipeline in the industry. This is because GANYMED has brought together arguably the strongest and most dynamic scientific team for translational medicine. With a world leading expertise in pinpointing highly specific proprietary targets, GANYMED is building a growing sustainable pipeline of antibody therapeutics targeting solid cancers with high medical need and large market potential. The Company’s lead antibody is iMAB362, which will enter a clinical trial for metastatic gastro-esophageal carcinoma in Q4 2008. GANYMED also has five further antibody projects in development for breast, colorectal, lung, pancreatic and prostate cancers. GANYMED is a privately held company located in Mainz, Germany. For further information please visit www.ganymed-pharmaceuticals.com.

About ATS

ATS Beteiligungsverwaltung GmbH operates as a “Family Office” for the Strüngmann brothers, offering their know-how and strategic support to selected biotech companies.

About Future Capital AG

Future Capital AG invests in companies engaged in the life sciences and chemistry, including nanotechnology and material sciences. The fund was founded in March 1999 at the initiative of the Hessen State Government and Hoechst AG (now Sanofi- Aventis Group) and acts as an independent venture. Future Capital AG manages assets of € 63.9 million.

About MIG Verwaltungs AG

MIG Verwaltungs AG continues their tried-and-tested approach with this further investment in GANYMED Pharmaceuticals AG: Investment is only made in selected companies in Germany and Austria after their viability has been thoroughly audited. Its innovative, high-potential products and the entrepreneurial skills of its management teams are both key. MIG Verwaltungs AG is supported by Alfred Wieder AG. This specialist in venture capital is experienced in the sale of holdings and is therefore the first point of contact for any potential investors.

Contact information:

GANYMED Pharmaceuticals AG Dr. Rainer Wessel Executive Speaker & CBO t: +49 (0) 61 31 14 40 100 e: info@ganymed-pharmaceuticals.com College Hill Life Sciences

Dr. Douglas Pretsell Senior Account Director t: +49 (0) 89 57 00 18 06 e: douglas.pretsell@collegehill.com


Read at BioSpace.com

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