Ingenium Raises EUR 13.8 Million in Third Round of Private Financing

12-Dec-2003

Ingenium Pharmaceuticals AG announced that it has raised EUR13.8 million in its third round of private financing. The round was led by new investor HBM BioVentures (Cayman) Ltd. and prior Ingenium investors TVM Techno Venture Management and Polaris Venture Partners. Current Ingenium investors who have participated in the round are Ascenion GmbH, Index Ventures, IKB, Schroder Ventures Life Sciences, and Sofinnova Partners. "This round of investment ensures Ingenium's further success in building a world-leading drug discovery company," said Michael C. Nehls, M.D., Ph.D., Chief Executive Officer of Ingenium. "Ingenium has proven its ability to establish and manage effectively a hybrid business model that will deliver long-term value through our internal drug discovery research and our Deductive Genomics® agreement with Elan as well as near- and mid-term value through multiple partnerships based on our INGENOtypingä technology platform."

"HBM is pleased to continue its leaderships in choosing investments that have strong management and ground-breaking drug discovery technologies," stated Dr. Erich Platzer, Chairman of the Ingenium Supervisory Board and Investment Advisor at HBM Partners Zurich, the investment advisors to HBM BioVentures.

Dr. Helmut Schühsler, Managing Partner at TVM and Vice Chairman of the Ingenium Supervisory Board added, "We consider Ingenium´s biology driven drug discovery strategy as one of the most exciting programs in the industry and a real step forward in the understanding of complex biology. Only an investor group as strong as Ingenium´s can support such a challenging effort into the future."

"Ingenium is currently the only European investment in our life sciences portfolio and we are encouraged by their ability to drive the company forward with strong technology and multiple value-building partnerships," said Terry McGuire, Managing General Partner at Polaris Ventures.

The basis of Ingenium's business is its knowledge and expertise in generating the biological information critical to the discovery, validation and development of therapeutics. Ingenium's Deductive Genomics® technology combines genome-covering mutagenesis in the murine model system with a proprietary, therapeutic goal-oriented biological screen. From the breadth of knowledge generated by Deductive Genomics®, Ingenium is currently advancing a pipeline of novel models and biologically validated drug targets in the areas of inflammatory bowel disease, obesity, and neurological disorders. The company's INGENOtyping(TM) platform offers the most rapid access to innovative murine models for drug discovery research. Ingenium has research partnership agreements with Elan Corporation, Bayer AG, F. Hoffmann-La Roche Ltd., Sequenom Inc., and Oxagen Limited, in addition to numerous international academic collaborations.

https://www.bionity.com/en/news/32693/ingenium-raises-eur-13-8-million-in-third-round-of-private-financing.html