Immunic AG, a young, privately held biotech company in Planegg-Martinsried near Munich, has announced the successful completion of its first financing round (Series A) with a total amount of 17.5 million euros.
The financing round was led by co-lead investors Life Sciences Partners V Coöperatief UA (LSP, Netherlands) and LifeCare Partners (LCP, Switzerland). Other investors include Bayern Kapital (Landshut), High-Tech Gründerfonds (HTGF, Bonn), and private investors. Immunic, based in the Innovation and Startup Center for Biotechnology (IZB) in Martinsried, was founded in April 2016 with the concept of developing promising drug candidates up to the first proof of efficacy in patients (the so-called clinical proof of concept) to develop.
The focus is on Immunic on immunomodulatory active ingredients that can be taken as tablets. These are intended to treat diseases with an immunological or autoimmune background. Such diseases include chronic inflammatory bowel disease (IBD) or psoriasis.
Dr. Manfred Gröppel, one of the Immunic founders and Chief Operating Officer:
"The completion of this financing round is a validation for Immunic's founding team. We are very pleased to have the support of such experienced biotech investors. Both their financial commitment and their experience in the biotech industry will help us accelerate our development activities."
Dr. Andreas Mühler, also founder and Chief Medical Officer at Immunic, adds:
“The funding will enable us to develop innovative and effective, yet convenient, oral therapies for patients suffering from serious diseases involving the immune system.”
Aigner: “The entire business location benefits from this”
"Innovative therapies are still urgently needed in the field of immunological and autoimmune diseases. Above all, therapies that can be administered safely and easily in tablet form are sought. Tablets are preferred by both patients and healthcare systems over intravenous administration,"
explains Dr. Jörg Neermann, partner at LSP and chairman of the supervisory board of Immunic. Bavaria's Minister of Economic Affairs Ilse Aigner says:
"I'm pleased that the financing round was completed thanks in part to a contribution from the Bavarian Growth Fund. For us, Immunic, as with other startups, is about creating the best possible conditions for the development and implementation of innovative ideas. That's the fundamental idea of the Growth Fund. Innovations develop into products and companies, and the jobs of the future are created. The entire business location benefits from this."
