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DGAP-News ImevaX welcomes KfW to investor syndicate in second closing of Series A financing

Nachrichtenquelle: EQS Group AG
02.03.2015, 09:00  |  830   |   |   


DGAP-News: ImevaX GmbH / Key word(s): Investment
ImevaX welcomes KfW to investor syndicate in second closing of Series
A financing

02.03.2015 / 09:00

---------------------------------------------------------------------

Press Release

ImevaX welcomes KfW to investor syndicate in second closing of Series A
financing

Munich (Germany), March 02, 2015: ImevaX GmbH, a specialist in vaccines
against pathogens of chronic infectious diseases, especially in H. pylori
infections, announced today that KfW has joined the company's 2014 Series A
investor syndicate through a second closing of the financing.

The KfW investment is based on the ERP Start Fund. This Fund provides
private equity for young, innovative and technology-based companies with
particular growth opportunities. Not only are research and product
development projects financed, but also the market launch of new products,
processes and services. The investments are provided in conjunction with a
lead investor on market conditions.

ImevaX completed the first closing of its Series A financing at EUR 7.5
million in October 2014, led by Wellington Partners. Co-lead investors in
the first closing were BioMedPartners from the BioMedInvest-II LP fund,
EMBL Ventures and Santo Venture Capital. ImevaX is a 2014 spin-out from the
Technische Universität München (TUM) and was awarded a EUR 5.9 million
financing from the GO-Bio Phase II program of the Federal Ministry of
Education and Research (BMBF) in September 2014.

The funds are being used to advance lead candidate IMX101 through clinical
trials before licensing. IMX101 is a highly specific vaccine against
Helicobacter pylori (H. pylori). Chronic H. pylori infections of the
stomach 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.

Volker Wedershoven, Chief Executive Officer of ImevaX GmbH, commented: "We
are pleased that with KfW another experienced investor has joined the
consortium of life science investors who support us in developing our
pipeline of novel treatments to help fight the consequences of infectious
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DGAP-News ImevaX welcomes KfW to investor syndicate in second closing of Series A financing DGAP-News: ImevaX GmbH / Key word(s): Investment ImevaX welcomes KfW to investor syndicate in second closing of Series A financing 02.03.2015 / 09:00 --------------------------------------------------------------------- Press Release ImevaX welcomes …

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