VIENNA, Austria, September 25 /PRNewswire/ -- The successful progress of several vaccine programmes run by AFFiRiS GmbH has prompted investor MIG AG to increase its investment in the company. It has set up two new funds - MIG 5 and MIG 7 - to give private investors in Germany and Austria the opportunity to invest in this promising biotech company. The company decided to take this step for two reasons. First, to ensure the early coverage of future capital demand for the continued successful development of vaccines against Alzheimer’s disease and atherosclerosis and, second, the tremendous potential that the proprietary AFFITOME platform technology offers the global pharmaceutical market.
The investment group MIG-Fonds announced today that it has increased its investment in AFFiRiS by a further Euro 3 million. As a result, private investors now have another chance to share in the economic success of the biotech company via the MIG Fonds 5 and 7. This news is particularly relevant for private investors in Germany, who have immediate access to MIG 7. This provides investors with the opportunity to make a highly promising investment before the modified capital gains tax comes into force in Germany. Therefore, after a year’s holding period, any later profits made from this investment will be tax free.
AFFiRiS will contribute to the success of these funds through its proprietary AFFITOME technology, which is based on the process of molecular mimicry. This technology enables the development of customized vaccines known as AFFITOPE. Dr. Walter Schmidt, co-founder and company CEO, explains the key to the company’s AFFiRiS vaccine strategy: “Our patented AFFITOME technology enables scientists to create both molecules with very specific binding characteristics and molecules that differ in structure but exhibit identical binding characteristics. We are currently using these strengths in the development of vaccines against Alzheimer’s disease. In the future, AFFITOME technology will also be able to exert a positive influence on other human rogue proteins - such as lipid metabolism enzymes. In line with our strategy of developing medicines for diseases with urgent medical need and attractive market potential, one of our next product candidates can deliver effective results in the treatment of atherosclerosis.”
Michael Motschmann, Senior Fund Manager at MIG Fonds, comments on business developments at AFFiRiS GmbH: “In an amazingly short period of time, the company has developed two vaccines against Alzheimer’s disease from the initial idea to the first phase I clinical trial, thus underlining the effectiveness of its highly promising business model. We have every reason to believe that these vaccines make interesting product candidates and expect comparable developments to follow in other indications. This progress alone prompted us to make another substantial investment. What’s more, the AFFITOME technology behind the development of these vaccines represents an almost inestimable value, which can make the company a very attractive licenser for major pharmaceutical companies.”
About AFFiRiS GmbH (as at September 2008):
AFFiRiS GmbH develops peptide-based vaccines for the treatment of Alzheimer’s disease, atherosclerosis and other diseases that urgently require a medical solution. The company has established platform technologies and registered the corresponding patent families. The first patents have already been issued. It employs 35 highly qualified members of staff on 600msquared of rented laboratory facilities at the Campus Vienna Biocenter (http://www.affiris.com).
About MIG-Fonds:
The participation of MIG Verwaltungs AG in Affiris GmbH represents the continuation of a tried-and-tested approach. 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: Contact for AFFiRiS GmbH: Dr. Walter Schmidt, T
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