Ingenium Pharmaceuticals Raises Euro 9.2 Million From Leading Venture Funds
Published: Apr 04, 2006
MUNICH, Germany, April 4 /PRNewswire/ -- Ingenium Pharmaceuticals AG announced today the first closing of its Series D financing at Euro 9.2 million. The round was lead by existing investors HBM Bioventures (Cayman) Ltd. and TVM Capital.
"This funding will enable Ingenium to reach the critical next step in the development of our portfolio of novel treatments for pain and inflammatory diseases," stated Michael C. Nehls, M.D., Ph.D., CEO of Ingenium. "We see the continued support of two of the leading international biotech venture capital funds as a significant endorsement of our strategy for the company's future."
"Leveraging its expertise, Ingenium is addressing an important therapeutic need with its portfolio," said Dr. Erich Platzer, Chairman of the Ingenium Supervisory Board and Investment Advisor at HBM Partners Zurich, investment advisors to HBM Bioventures. "With this investment, we look forward to the company's further progress in developing these opportunities."
Dr. Helmut M. Schuehsler, Managing Partner of TVM Capital and Vice Chairman of the Ingenium Supervisory Board added, "TVM is committed to investing in companies that develop truly novel treatments for major human diseases. We see great potential in Ingenium's portfolio of novel approaches to pain and inflammatory diseases, which remain major, underserved markets."
Ingenium Pharmaceuticals discovers and develops novel therapeutics to treat pain and inflammatory diseases. The company is applying its expertise and understanding of drug target biology, in vivo pharmacology, disease pathology and modeling to its growing portfolio of compounds and targets in these therapeutic areas. In addition, Ingenium has significant discovery and development collaborations with Elan and GPC Biotech as well as numerous agreements across the international biopharmaceutical industry to provide its unique genetics know-how and proprietary models. Based in Munich, Germany, Ingenium is financed by premier biotechnology-focused venture capital funds.Ingenium Pharmaceuticals AG
CONTACT: Michael Grau, CFO, or Gretchen L.P. Schweitzer, both of IngeniumPharmaceuticals AG, +49 89 8565 2310
Web site: http://www.ingenium-pharmaceuticals.com/