- Series A financing round extended to EUR 21.7 Million
- Immunic’s investor base broadened by IBG fund which is managed by bmp Beteiligungsmanagement
- Expanded funding accelerates further development of IMU-838 and IMU-366 in chronic inflammatory and autoimmune diseases
Planegg-Martinsried and Magdeburg, Germany, February 1st, 2017 – Immunic AG (Immunic Therapeutics), a recently founded private biotech company in Martinsried near Munich, Germany, today announced that it has expanded its Series A round of financing now totaling EUR 21.7 million of preferred stock financing. New investor IBG Risikokapitalfonds II GmbH & Co. KG joined the international group of investors, led by LSP and co-lead LifeCare Partners.
Immunic was founded in April 2016 with the purpose to advance promising drug development projects to clinical proof-of-concept. The company currently develops two development programs IMU-838 and IMU-366 in the field of Th17 and Th1 mediated chronic inflammatory and autoimmune diseases like ulcerative colitis, Crohn’s disease and psoriasis.
Dr. Daniel Vitt, Immunic’s Chief Executive Officer, says: “We are very excited that IBG joins the group of renowned investors and adds another four million Euro of equity financing to Immunic’s series A. This step is very important to speed up development of our two key assets IMU-838 in the field of IBD and IMU-366 for treating autoimmune diseases with high unmet medical need.”
“We are convinced that Immunic’s unique therapeutic products managed by an experienced team will substantially advance the therapeutic options in the underserved field of chronic inflammatory diseases”, states Dr. Angelika Vlachou, Investment Manager at bmp. “We are delighted to be able to accompany this development with the IBG funds and help to build up a research branch office in Halle (Saale).”
– Press release ends –
About Immunic AG
Immunic AG is a start-up biotech company founded in April 2016 and focused on the development of immune modulators to block Th17- and Th1-mediated immune and autoimmune responses. The company’s two development programs include orally available, small molecule inhibitors of DHODH (IMU-838 program) and RORγt (IMU-366 program) relevant to diseases such as Ulcerative Colitis, Crohn’s disease and psoriasis. The final aim is to develop these drug candidates to clinical proof of concept. Immunic, with headquarters in Planegg-Martinsried near Munich, Germany, is privately held and supported by several renowned sector investors.
Further information: www.immunic.de
About the IBG funds
The IBG funds are based in Magdeburg and are the venture capital funds of the federal state of Sachsen-Anhalt. The IBG funds provide equity capital financing for young innovative technology companies with long-term and above-average growth potential that are headquartered in or have a branch office in Sachsen-Anhalt. The IBG funds have already invested in over 100 companies since 1996. Currently approximately 50 companies are part of the portfolio. The IBG funds are managed by bmp Beteiligungsmanagement AG, Berlin and Magdeburg.
Further information: www.ibg-vc.de
With background of experience of more than 250 investments in almost all technology segments, the majority of which were early phase, bmp is one of the most experienced venture capital investors in Germany. In addition to direct investments, bmp´s activities also include managing risk capital funds for KfW Bankengruppe and DEG – Deutsche Investitions- und Entwicklungsgesellschaft. bmp currently manages the IBG funds in Sachsen-Anhalt and the Frühphasenfonds Brandenburg fund.
Further information: www.bmp.com
Dr. Daniel Vitt, CEO
Am Klopferspitz 19
T: +49 89 250079460
Dr. Angelika Vlachou
bmp Beteiligungsmanagement AG
T + 49 391 5328140