Life Sciences Partners Co-Leads EUR 27.2M Series B Financing of Stem Cell Company Cellerix, S.L.
Published: Oct 08, 2007
“Cellerix has systematically been assembling all the necessary ingredients to become a leader in stem cell therapy and one of the very few companies with credible products in this field”, commented Joachim Rothe, General Partner with LSP. “We are delighted to be working with the Company and the other investors to assist Cellerix in this extremely exciting process”.
“The support of such an impressive group of specialised international investors is a tremendous recognition of Cellerix leadership among biopharmaceutical cell therapy companies and backs our efforts in the research and development of innovative treatments. Their experience will contribute to the future development of Cellerix into a world-class biopharmaceutical company” remarked Eduardo Bravo, Cellerix CEO, regarding the transaction. ”To the best of my knowledge, this is the largest international financing ever raised by a Spanish biotech company”.
The funds raised will be invested in the completion of the clinical development of Cx401, which is the Company’s lead product. Cx401 is a stem cell therapy based on the use of adult autologous stem cells derived from adipose tissue for the treatment of complex perianal fistulas. This condition represents a clinical unmet need in a market that is estimated by Cellerix to surpass EUR 1.5bn in Europe. Cellerix received Orphan Drug Designation for Cx401 in 2005, has initiated a pivotal Phase III trial and expects to reach the market by 2010.
The funds will also allow the further development of the Company’s additional pipeline products, which include Cx501, a chimeric skin being developed for the treatment of epidermolysis bullosa, with an Orphan Drug Designation in 2006 and currently entering phase II clinical trials. Further products in the pipeline include Cx601 and Cx611, the new generation of allogenic products, undergoing preclinical development for the treatment of fistulas and different alterations of the immune system such as rheumatoid arthritis.
ABN AMRO acted as placement agent of the operation.
Cellerix is a clinical biopharmaceutical company that develops and produces innovative medicines based on the use of adult stem cells. It currently has two products undergoing clinical trials: Cx401 for the treatment of perianal fistulas, is in Phase III and Cx501, for skin regeneration, is currently in Phase II. Cx401 and Cx501 are the two first cellular products to obtain the orphan status by the European Medicines Agency (EMEA). The new generation of Cellerix products is based in the employment of allogeneic stem cells and is represented by Cx601 and Cx611, currently undergoing preclinical development, for the treatment of fistulas and of different alterations of the immune system respectively. For further information about Cellerix: www.cellerix.com.
LSP (Life Sciences Partners) is a leading independent European venture capital firm, providing private equity financing to early- to mid-stage 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 EUR 400 million under management and offices in Amsterdam, Munich and Boston, LSP is one of Europe's largest and most experienced specialist life science investors. See www.lspvc.com.
For further information please contact:
Martijn Kleijwegt, Managing Partner
Tel: +31 (0) 20 6645500