leon nanodrugs GmbH has announced that it completed the first closing of its Series A preferred stock offering at €18.5 million. The financing was led by TVM Capital Life Science, based in Munich and Montreal, with participation from Signet Healthcare Partners (US), LifeCare Partners (Switzerland), CD-Venture (Germany), Albany Private Equity Holding (Australia), and a non-disclosed family office from Germany.
Dr. Hubert Birner, managing partner, and Stefan Fischer, general partner & CFO, TVM Capital Life Science; James Gale, managing director, Signet Healthcare Partners; Dr Gerhard Ries, managing partner, LifeCare Partners; Dr Frank Mathias, CEO, Medigene AG; and Dr Bernd Baumstümmler, CEO, Instillo Group, will be joining the board of directors.
leon-nanodrugs was founded by a group of experienced drug development professionals in mid-2011. The company focuses on the reformulation of approved or promising small molecule and protein drug candidates based on its patented and award-winning MJR-nanotechnology-platform. leon-nanodrugs develops novel oral and parenteral formulations by using GMP (good manufacturing practice)-compliant nanotechnology to improve bioavailability, solubility as well as dissolution rates. leon-nanodrugs will use the proceeds of this Series A financing to expand its profitable service business and to enter into high margin co-development deals with pharmaceutical partners.
Dr Wolfgang Beier, medical director and co-founder, explains: "With our unique network of interdisciplinary drug-development capabilities and our leading nanotechnology platform, we are a reformulation expert for high barrier generics for proactive product life-cycle-management or line-extensions as well as the development of novel nano and micronised drugs."
Cornelia Beier, managing director and co-founder of leon-nanodrugs adds: "We are proud to partner with TVM Capital Life Science's experienced investment team as the lead investor for our Series A financing. Their global reach will offer us unique opportunities to drive the commercialisation of our product candidates on an international scale."
"This is TVM Capital Life Science's first investment into a German company since 2009 and we are very pleased to reinforce our footprint as a lead investor in the German market, especially as we are joined in this financing by reputable investors who have co-invested with us over many years in Germany and abroad," states Dr Hubert Birner, managing partner with TVM Capital Life Science in Munich and Montreal. "leon-nanodrugs provides an exciting next-generation-nanotechnology reformulation platform, validated by multiple service collaborations with prominent pharma partners, that will certainly change this market segment in the future - congratulations to the team at leon-nanodrugs for achieving one of the largest Series A financings this year."
