DGAP-News
ImevaX secures EUR 7.5 million in Series A Financing to develop highly specific vaccine against Helicobacter pylori infections
DGAP-News: ImevaX GmbH / Key word(s): Financing
ImevaX secures EUR 7.5 million in Series A Financing to develop highly
specific vaccine against Helicobacter pylori infections
28.10.2014 / 09:00
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Press Release
ImevaX secures EUR 7.5 million in Series A Financing to develop highly
specific vaccine against Helicobacter pylori infections
Munich (Germany), October 28, 2014: ImevaX GmbH, a specialist in vaccines
against pathogens of chronic infectious diseases, announces today the
completion of a EUR 7.5 million Series A financing round. The round was led
by Wellington Partners. Co-lead investors were BioMedPartners with their
BioMedInvest-II LP fund, EMBL Ventures and Santo Venture Capital. ImevaX is
a 2014 spin-out from the Technische Universität München (TUM) and has been
recently awarded a EUR 5.9 million financing from the GO-Bio Phase II
program of the Federal Ministry of Education and Research (BMBF).
The funds will be used to advance lead candidate IMX 101 through clinical
trials before partnering. IMX 101 is a highly specific vaccine against
Helicobacter pylori (H. pylori). Chronic infections of the stomach with H.
pylori are the most common bacterial infections worldwide and lead to
gastritis, stomach ulcers and potentially stomach cancer. Due to the high
global infection rate and the decreasing efficacy of existing antibiotics
against H. pylori plus the poor safety profile of these treatments, there
exists a high medical need and a significant commercial interest in a H.
pylori vaccine.
"In light of the pandemic nature of H. pylori infections and the high
medical need, it is essential to develop novel treatment strategies for
this chronic disease," said Professor Erich Schlick, General Partner at
Wellington Partners and member of the Advisory Board of ImevaX GmbH. "This
is why we are strongly committed to the ImevaX vaccine approach."
Dr Markus Hosang of BiomedPartners, Dr Jan Adams of EMBL Ventures and Dr
Ulrich Granzer of Granzer Regulatory Consulting have also joined the
Advisory Board of ImevaX.
Volker Wedershoven, Chief Executive Officer of ImevaX GmbH since September
1, 2014 commented: "We are delighted to receive this strong support from
such experienced life sciences investors; their knowledge and experience
will be invaluable to the development of ImevaX and our pipeline of
infectious diseases treatments. This round of financing will support the
development of IMX 101 into the clinic and potentially into partnering
Press Release
ImevaX secures EUR 7.5 million in Series A Financing to develop highly
specific vaccine against Helicobacter pylori infections
Munich (Germany), October 28, 2014: ImevaX GmbH, a specialist in vaccines
against pathogens of chronic infectious diseases, announces today the
completion of a EUR 7.5 million Series A financing round. The round was led
by Wellington Partners. Co-lead investors were BioMedPartners with their
BioMedInvest-II LP fund, EMBL Ventures and Santo Venture Capital. ImevaX is
a 2014 spin-out from the Technische Universität München (TUM) and has been
recently awarded a EUR 5.9 million financing from the GO-Bio Phase II
program of the Federal Ministry of Education and Research (BMBF).
The funds will be used to advance lead candidate IMX 101 through clinical
trials before partnering. IMX 101 is a highly specific vaccine against
Helicobacter pylori (H. pylori). Chronic infections of the stomach with H.
pylori are the most common bacterial infections worldwide and lead to
gastritis, stomach ulcers and potentially stomach cancer. Due to the high
global infection rate and the decreasing efficacy of existing antibiotics
against H. pylori plus the poor safety profile of these treatments, there
exists a high medical need and a significant commercial interest in a H.
pylori vaccine.
"In light of the pandemic nature of H. pylori infections and the high
medical need, it is essential to develop novel treatment strategies for
this chronic disease," said Professor Erich Schlick, General Partner at
Wellington Partners and member of the Advisory Board of ImevaX GmbH. "This
is why we are strongly committed to the ImevaX vaccine approach."
Dr Markus Hosang of BiomedPartners, Dr Jan Adams of EMBL Ventures and Dr
Ulrich Granzer of Granzer Regulatory Consulting have also joined the
Advisory Board of ImevaX.
Volker Wedershoven, Chief Executive Officer of ImevaX GmbH since September
1, 2014 commented: "We are delighted to receive this strong support from
such experienced life sciences investors; their knowledge and experience
will be invaluable to the development of ImevaX and our pipeline of
infectious diseases treatments. This round of financing will support the
development of IMX 101 into the clinic and potentially into partnering