Leiden, The Netherlands, 26 March 2007: ProFibrix B.V., a Dutch biotech company focused on products to stop bleeding and initiate tissue repair, today announced that it has closed a Series A financing raising $11 Million. The round was led by Index Ventures, a top tier venture capital firm based in Geneva, Switzerland. Some of the current share holders of ProFibrix also participated in this financing round. It was also announced that Dr. Bram Bout, who previously held the position of VP protein production at Crucell (Leiden, The Netherlands) and has approximately 15 years experience in the biopharmaceutical industry, will join ProFibrix as of 1 April 2007 as Chief Technology Officer.
ProFibrix will use the funds to develop its lead product, FibrocapsTM, a dry powder topical haemostat, for the treatment of severe haemorrhage that occurs during surgery and in trauma situations. FibrocapsTM is based on human fibrinogen and thrombin, two essential proteins in the natural clotting cascade that are formulated, using micro-particle technology, as a readily available, pre-mixed, dry powder blend. ProFibrix will also develop other high added value products based on fibrinogen for the haemostasis and tissue repair market.
Commenting on the financing round Dr. Jaap Koopman, Founder and CEO of ProFibrix said: “We are delighted to have closed this financing round with Index Ventures, a first class investor in the Life Sciences, providing not only financial resources but also strong support in building our Company. The funds raised will enable us to establish clinical proof of concept in a Phase II clinical study for FibrocapsTM our lead product. FibrocapsTM is based on the micro-particle formulation technology, developed by our partner Quadrant Drug Delivery Ltd (now part of the Vectura plc group). FibrocapsTM is easy to use and, unlike existing liquid fibrin sealant products, stable at ambient temperatures. This will enable us to expand the use of FibrocapsTM into the pre-hospital setting for the treatment of trauma haemorrhage, which substantially increases the market potential of this dry powder fibrin sealant product. The financing also enables ProFibrix to expand the management team by recruiting highly experienced people like Dr. Bram Bout.”
Dr. Mark de Boer, Venture Partner at Index Ventures, who will be chairing the ProFibrix Board of Supervisory Directors commented: “The lead product of ProFibrix will be a breakthrough in treating severe bleeding. The short, low risk and inexpensive clinical development of this product makes it an ideal stepping stone to rapidly increase the value of the company. This will allow us to leverage the fibrinogen technology platform by development of innovative, customized products for the haemostasis and tissue repair market.”
About ProFibrix
ProFibrix is a biotech company that was founded in January 2004 and is located in the Bioscience Park Leiden, The Netherlands. The company aims to create, develop and market new and innovative healthcare products, based on the unique properties of human fibrinogen. The company has already developed an extensive network of academic and industrial collaborations that support the R & D activities. www.profibrix.com
About Index Ventures
Index Ventures is a leading pan-European venture capital firm dedicated to working with entrepreneurs who have the drive and ability to build world-class technology and life science companies. The Index Ventures team, which began investing in 1992, has a deep technology and scientific focus and the ability to leverage a network of cross-Atlantic strategic relationships. Index proactively seeks out the top entrepreneurial teams in each investment area and leverages its core assets in helping the entrepreneurs build their companies into global leaders. Index Ventures investors include leading technology firms and institutional investors. To learn more about Index Ventures visit www.indexventures.com
For more information contact:
ProFibrix Dr. Jaap Koopman, CEO Tel: + 31 (0) 6 21628475 Email ; jaapkoopman@planet.nl
