German biopharmaceutical company GANYMED closes €65m roundMainz, Germany-based biopharmaceutical company GANYMED Pharmaceuticals has closed a €65m financing round, led by Munich-based ATS Beteiligungsverwaltung and also including German investors Future Capital AG and MIG Verwaltungs AG and private investors.
GANYMED is building a pipeline of antibody therapeutics targeting solid cancers. The company's leading antibody is iMAB362, which will enter a clinical trial for metastatic gastro-esophageal carcinoma in Q4 2008, the company said in a statement.
GANYMED also has five further antibody projects in development for breast, colorectal, lung, pancreatic and prostate cancers.
'This financing round emphasises our profound confidence in GANYMED's team and the company's broad pipeline,' said Helmut Jeggle, spokesperson of ATS. 'Because of the potential we see in the company, this is the appropriate step for a long-term strategic positioning of GANYMED.'
ATS operates as the family office for the Strüngmann brothers.
Future was founded in March 1999 at the initiative of the Hessen state government and Hoechst (now Sanofi- Aventis Group) and acts as an independent venture. Future manages assets of € 63.9m.
MIG is supported by the firm Alfred Wieder.
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Private Equity News» By Region» Europe» Western Europe» Germany
