Martinsried-based advanceCOR GmbH has successfully completed a financing round totaling six million euros. MIG Fonds, as consortium leader, invested in the venture, along with co-investors First Capital Partner, Occident Group, Bayern Kapital, High-Tech Gründerfonds, and KfW Bank.
The biotech company develops personalized therapies for cardiovascular diseases. At the heart of the activities of advanceCOR The promising substance Revacept is being investigated. The approach is to combine biotechnological therapeutic principles with accompanying diagnostics to create a targeted therapy with few side effects.
Two studies are intended to provide proof of concept
Matthias Guth, Venture Partner of MIG Verwaltungs AG (MIG AG), says:
“With this funding, advanceCOR will continue the already initiated Phase II patient study with Revacept in patients with symptomatic carotid stenosis (Editor's note: narrowing of the carotid artery) and stroke.”
In addition, another patient study with Revacept in patients with coronary artery disease and catheter intervention is being conducted in collaboration with the German Center for Cardiovascular Research (DZHK). Numerous patients have already been enrolled in the study. The Phase II study in patients with symptomatic carotid stenosis is nearing completion, with the planned 150 patients enrolled.
Michael Motschmann, General Partner and Board Member of MIG AG, explains:
"With the results of these two clinical trials, advanceCOR will achieve proof of concept if successful. This could then lead to a sale or further joint development with a major pharmaceutical partner."
Revacept is described by experts as having remarkably few side effects.
