Vienna-based biotech research company Apeptico has successfully concluded its series C funding of EUR 3.4 mln, EUR 1.4 mln of which came in 2011 in the form of a research grant from the Austrian Research Promotion Agency. The remaining EUR 2 mln has come from The BioScience Venture Group, V+ GmbH & Co Fonds 2 KG and V+ GmbH & Co Fonds 3 KG as well as private individuals in Germany, the United States and Switzerland. The round of funding will enable continued research on the drug AP301 which, when inhaled, reduced fluid formation in the case of acute lung injuries as is the case with pulmonary edema due to the hyper-permeability of the membrane. The drug is now poised to enter phase II of testing.
Apeptico is a privately-owned independent biotechnology research company. Headed by CEO Dr. Bernhard Fischer, Apeptico develops protein-based biomolecules for the treatment of debilitating, chronic and fatal diseases. The peptide-based biomolecules conform to accepted biopharmaceutical standards, and also bypass any risk of the diseases being transmitted by viral or other microbial means. In comparison to recombinant technology used to create such biomolecules, Apeptico’s process is considerably more cost and time-effective.
BioScience Venture Group (www.bsvg.com)
The BioScience Venture Group is a private equity firm focused on targeting early stage companies that specialize in the life sciences sector. The main geographic focus is on Germany, Switzerland and Austria, and the company seeks to invest in biotechnology firms that fill gaps in the medical technology, biotechnology and pharmaceuticals segments. Typical investment range is between EUR 250,000 and 500,000 per portfolio company, and the input also includes speeding up the trails processes and cutting development costs through hands-on consultancy expertise.