A ustrian pharmaceutical company PDC Biotech GmbH (PDC) recently announced the close of Series A financing, topping the €4 million mark. Co-leading the round were France’s Edmond de Rothschild Investment Partners and Germany’s MIG Verwaltungs AG. Combined with earlier seed funding of €1 million and a grant of €517,000, PDC’s total funding is now more than €5.56 million. The recent investments will be used to continue development of PDC’s inaugural product which it hopes to have in Phase I testing by next year.
PDC Biotech GmbH (www.pdcbiotech.com)
PDC Biotech GmbH is biopharmaceutical company founded by two Canadian business women with a combined 50 years of industry experience. The company moved operations to Austria in 2008 after receiving seed funding from Austria Wirtschaftsservice. PDC’s core business is the development of products and therapies focused on women’s health.
Edmond de Rothschild Investment Partners (www.edrip.fr)
As part of the part of the group La Compagnie Financière Edmond de Rothschild, Edmond de Rothschild Investment Partners (ERIP) is a French private equity firm active in European markets for more than 20 years. The firm’s institutional investors enable it to seek out high-growth opportunities with small and mid-sized companies in the capital growth and life sciences sectors. ERIP currently boasts more than €750 million in assets under management.
MIG Verwaltungs AG (www.mig.ag)
Munich-based MIG Verwaltungs AG concentrates its investments on early and mid-stage opportunities throughout German-speaking Europe, primarily in life sciences and technology sectors. With more than 20 investments in Germany and Austria, and current funds with a volume in excess of €400 million, MIG Verwaltungs is one of Germany’s most active venture capital firms.
