22.12.2009
Molecular Partners Secures CHF 46 million in Series B Financing
Molecular Partners AG, a pioneer in the development of next generation protein therapeutics, has announced the closing of its Series B equity investment round securing CHF 46 million (€ 30 million, $ 45 million).
The company received the CTI Start-up Label in 2007.
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 into clinical proof of concept studies in two indications in ophthalmology. Molecular Partners is collaborating with Centocor Research & Development, Inc.. The investment will see Dr. Petri Vainio, Managing Director at Essex Woodlands, join the board of directors at Molecular Partners.
For more information go to www.monecularpartners.com