Life Sciences Partners leads € 18.5 million Series A Financing Round of Curetis
12/7/2009 2:15:28 PM
Amsterdam, 7 December 2009
LSP (Life Sciences Partners) today announced that it led a € 18.5 million Series A financing round of the German medical diagnostics company Curetis AG. This financing will enable Curetis to complete development of its innovative diagnostic products through to market entry.
Founded in August 2007, Curetis is a molecular diagnostic company focusing on the development of tools to test for severe infectious diseases. The new financing of € 18.5 million is provided by an international consortium, composed of four partners and led by LSP - including the existing investor aeris CAPITAL, which seeded Curetis with € 1.4 million in 2008. New syndicate members include: LSP (Life Sciences Partners), BioMedPartners as well as the ERP-Startfonds of the KfW Bankengruppe.
Curetis is developing universal molecular diagnostic solutions, initially focusing on severe bacterial infections; i.e. pneumonia. Given that globally, over 25 million people are diagnosed each year with pneumonia, there is a strong demand for new devices identifying timely and cost-effective treatment options.
The investors' commitment was driven by Curetis' technology and know-how, as well as the promising market potential of its products. "Its products will solve a huge medical problem, making Curetis a very attractive investment. Hence the consortium is pleased to enable Curetis to further develop its products and commercialize them." commented Dr. Jörg Neermann, LSP Partner. Dr. Jörg Neermann will join the Curetis' supervisory board. Along with aeris CAPITAL and BioMedPartners, LSP assumed the leading role in the investment consortium. Dr. Frank Mühlenbeck, Partner at aeris capital and Dr. Gerhard Ries, General Partner of BioMedPartner, will further strengthen the supervisory board.
"Curetis' management is very pleased to have succeeded in attracting such well-known investors with such profound expertise in the life-science-arena. In addition to their financial investments, all of them will contribute invaluable know-how. The fact, that we could close such a significant round with such a strong syndicate in today's stressed financial markets is a testament to our investors` confidence in Curetis`potential", commented Johannes Bacher and Andreas Boos, co-CEO`s of Curetis AG.
Founded in 2007, Curetis AG is a molecular diagnostics company which focuses on the development and commercialization of reliable, fast and cost-effective tools for diagnosing severe infectious diseases. The diagnostic solutions of Curetis AG will enable rapid multiparameter pathogen and antibiotic resistance detection in only a few hours, a process that today can take up to days or even weeks with other techniques.
LSP (Life Sciences Partners) is a leading independent European venture capital firm, providing private equity financing life-science companies. Since the late 1980s, LSP's management has invested in a large number of highly innovative enterprises, many of which have grown to become leaders of the global life-science industry. For example, LSP was a founding investor in Crucell, DNage, Qiagen, Rhein Biotech and Pharming. With € 500 million under management and offices in Amsterdam, Munich and Boston, LSP is one of Europe's largest and most experienced specialist life-science investors. For further information please contact:
Dr. Jörg Neermann
Tel: +49 (0) 89 3306660