AC Immune raises CHF 40 million in successful round C

Key appointments of Chief Financial Officer and Chief Medical Director

28-Jan-2009 - Switzerland

AC Immune SA announced that it has successfully completed its financing round C by raising CHF 40 million from existing investors and it has made two key appointments of Chief Financial Officer and Chief Medical Director.

These developments build on the progress in its clinical pipeline announced in December and its recent award as Technology Pioneer 2009 by the World Economic Forum whose annual meeting takes place this week in Davos, Switzerland.

Prof. Andrea Pfeifer, CEO of AC Immune said, “We are very pleased with the continued trust of our investors in AC Immune, especially in the current financial environment. This round C financing and the completion of our leadership team mark the next phase of corporate development into a successful clinical product company. Being selected as Technology Pioneer 2009 by the World Economic Forum in Davos I feel that AC Immune is perfectly positioned for an excellent performance in the post-crisis world.”

CHF 40 million round C The successful financing of CHF 40 million was fully subscribed by existing private investors, demonstrating the continuous trust of these individuals who have now invested a total of CHF 64 million in three rounds since AC Immune was founded in 2003. The company will call on the latest funds in two tranches according to the financial requirements of the company. AC Immune will use these funds, along with existing cash resources, to advance at full speed its proprietary development programs in Alzheimer’s disease.

The company has strengthened its Leadership Team by appointing Jean-Fabien Monin as Chief Financial Officer and Michael Wagener, MD, as Chief Medical Director. Jean-Fabien brings 14 years experience at bioMérieux where he held the position as CFO Central Europe. Michael spent 11 years at Novartis serving as Clinical Program Director for all global Phase 1-IV clinical studies in immunology.

https://www.bionity.com/en/news/94426/ac-immune-raises-chf-40-million-in-successful-round-c.html