Corporate venture fund invests EUR 4 million (USD 5 million) into Topas
Financing to accelerate clinical trials in autoimmune diseases
Detlev Mennerich, Ph.D., Investment Manager of BIVF, to join Topas ́ Board of Directors
Hamburg, 2 November 2017, – Topas Therapeutics GmbH (Topas), a Hamburg, Germany-based private platform company leveraging the natural tolerance induction capabilities of the liver, today announced that the Boehringer Ingelheim Venture Fund (BIVF) will join the Company ́s syndicate of strategic and financial investors which was established through a Series A financing round in 2016. BIVF will provide Topas with EUR 4 million (USD 5 million) to accelerate the Company ́s preparation and execution of clinical trials for autoimmune programs derived from its platform. Additionally, the Company announced that Detlev Mennerich, Ph.D., Investment Manager at BIVF, will join the Topas Supervisory Board.
With this capital increase, Topas has raised a total of EUR 18 million (USD 21 million). Epidarex Capital (Lead), Gimv, EMBL Ventures and Evotec previously invested EUR 14 million (USD 16.5 million) in the Company.
Timm Jessen, CEO of Topas Therapeutics, said: “We are delighted to have the Boehringer Ingelheim Venture Fund as a new investor and to welcome Detlev Mennerich to the Board. BIVF has a great track record of successfully investing in biotech companies as a strategic, long-term investor. Their investment in Topas is a strong validation of our approach and we greatly value their support.”
Detlev Mennerich, Ph.D., Investment Manager at BIVF, added: “We are impressed by the science, the team and the investor base Topas has gathered so far. I am pleased to join the Supervisory Board and to support the clinical translation of the pioneering pre-clinical discoveries made by Topas. The unique, liver-based approach has the potential to become a game changer in various autoimmune conditions with known disease antigens.”
About Topas Therapeutics
Topas Therapeutics GmbH is a private Hamburg, Germany-based biotechnology company focused on developing products to address areas of major unmet need, including autoimmune diseases, allergies and anti-drug antibodies. Topas’ technology platform induces antigen- specific immune tolerance by harnessing the liver’s natural immunology capabilities. The Company has two programs preparing to enter the clinic during 2018 – one for multiple sclerosis and one for an orphan disease. Topas also has a research and option agreement with Eli Lilly and Company focused on immune tolerance and a co-development agreement with Evotec for a Type 1 diabetes program that is currently in pre-clinical testing. Topas’ investors include: Epidarex Capital, Gimv, EMBL Ventures, Evotec and Boehringer Ingelheim Venture Fund. For additional information, please visit: www.topas-therapeutics.com.
About Boehringer Ingelheim Venture Fund
Created in 2010, the Boehringer Ingelheim Venture Fund GmbH (BIVF) invests in groundbreaking therapeutics-focused biotechnology companies to drive innovation in biomedical research. BIVF is searching for significant enhancements in patient care through pioneering science and its clinical translation by building long-term relationships with scientists and entrepreneurs. BIVF’s focus is to target unprecedented therapeutic concepts addressing high medical needs in immuno-oncology, in regenerative medicine or gene therapy. These may include novel platform technologies to address so far undruggable targets, new generation vaccines and/or new biological entities, such as oncolytic virotherapy.
BIVF takes an active role with its portfolio companies – delivering significant added value through its own extensive drug discovery, scientific and managerial expertise. BIVF has €200 million under management and currently supervises a portfolio of more than 20 companies.
For more information, please visit www.boehringer-ingelheim-venture.com.
###
Click here to download the press release.