Molecular Partners AG, a pioneer in the development of DARPins as next
generation protein therapeutics, has announced the closing of its Series
B equity investment round securing CHF 46 million (€ 30 million, $ 45
million).
The round was led by new investor Essex Woodlands Health Ventures,
a leading venture capital and growth equity firm in the healthcare
industry. All existing investors also participated in the round,
including Index Ventures, Johnson & Johnson Development Corporation, BB
Biotech Ventures and Endeavour. This increases the total amount raised
by Molecular Partners to CHF 64.5 million since 2007.
The new funds will enable Molecular Partners not only to advance its
lead compound MP0112, a best-in-class VEGF antagonist, into clinical
proof of concept studies in two indications in ophthalmology, but will
also support the development of Molecular Partners’ broad proprietary
pipeline of preclinical DARPin candidates. As novel biologics, DARPins
combine the advantages of monoclonal antibodies with many of the
properties of small molecules. Molecular Partners is collaborating with
Centocor Research & Development, Inc. in the development of DARPins for
two undisclosed targets.
The investment will see Dr. Petri Vainio, Managing Director at Essex
Woodlands, join the board of directors at Molecular Partners.
Dr. Christian Zahnd, CEO commented: “We see this funding as a very
strong validation of our company, the lead compound, and the DARPin
platform. It will allow us to take our lead program through early
clinical development, as well as to progress our pre-clinical pipeline
towards the clinic. I am very happy to strengthen our investor base so
significantly with Essex Woodlands. Also, I am grateful for the
continuous support from our existing investors”.
Dr. Petri Vainio from Essex Woodlands added: ”Molecular Partners is one
of those rare companies that owns a technology platform that is broad
and powerful enough to generate numerous successful pharmaceutical
products. We are all pleased and honoured to have the opportunity to
back Christian and his team as they pursue their exciting vision for
this company.”
Jörn Aldag, chairman of the board commented: “The quality of the
investors serves to highlight the quality of the science, the products
and the entire team at Molecular Partners. I would also like to welcome
Petri Vainio to the board. His experience and knowledge will be key in
ensuring Molecular Partners’ continued success.”
Dr. Francesco de Rubertis, Partner, from Index Ventures, who led the
Series A round, commented: “The team at Molecular Partners has done a
fantastic job in delivering on all of their aggressively set milestones.
This very strong investment round underlines the confidence we have in
Molecular Partners to become a leader in the field of next generation
protein therapeutics.”
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