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Affectis Pharmaceuticals AG Closes € 4 Million Series B Investment

Munich, Germany -- Affectis Pharmaceuticals AG has closed a € 4 Million Series B second financing round led by EMBL Ventures, Heidelberg, Germany. Additional new investors participating in this financing round were DG Lux Multimanager I SICAV Lacuna APO BioTech, KfW, and Sunrise Water Ltd. Existing institutional investors LSP and BayernKapital as well as the Max-Planck-Society also participated. Dr Christof Antz, Managing Partner of EMBL Ventures, will join Affectis’ Board of Directors.

The proceeds will be used to progress the Company’s drug development programs for the treatment of depression into the clinic. The most advanced drug candidate addresses an ion channel associated with depression for the first time. This ion channel has been extensively validated and it has the potential to become the first truly novel target for the treatment of depression in more than a decade. Modulating this target holds the promise of a therapeutic benefit superior to current antidepressants, namely to act faster, with less side-effects and to address more patients.

“The increasing medical need for improved treatments against affective disorders opens up highly attractive perspectives for innovative companies in this field. Due to its impressive achievements to date, its exclusive knowledge and pipeline generating capabilities, we believe that Affectis has an excellent position to emerge as one of the leading biotech companies focusing on affective disorders”, says Dr Christof Antz of EMBL Ventures.

“Despite the difficult financing environment for earlier stage companies in the biotech sector, we have managed to attract a distinguished group of investors for this round. The current financing will allow us to target an IND for the lead program and to develop other programs in the pipeline aggressively”, Dr Herbert Stadler, Chief Executive Officer of Affectis Pharmaceuticals AG, comments.

Dr Joachim Rothe, a Partner at LSP and Vice-Chairman of the Board, states that: “Affectis’ impressive progress and the efficient use of funds from the seed financing round in November 2003 have exceeded our expectations. Due to its unique expertise and network the company is on a fast track of drug development and it will now be able to pursue more of its pipeline opportunities in parallel”.

Publisher Contact Information:

Affectis Pharmaceuticals AG
49 89 306 22 653

Company profile of Affectis Pharmaceuticals AG
Past press releases of Affectis Pharmaceuticals AG.


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