CEVEC raises €4M to finance strong growth of human CAP® technology
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|Tuesday, 03 November 2009 09:30 (UTC + 1)|
Cologne, Germany, November 03, 2009 / b3c newswire / - CEVEC Pharmaceuticals, specializing in the development of complex therapeutic proteins based on the human CAP® Technology, today announced the closing of a €4M financing round. Creathor Venture Fonds and NRW.BANK led this round which included the participation from current investors and a group of private and institutional investors including the venture capital branch of Sparkasse KoelnBonn , and ERP Startfonds of KfW bank, both Germany. The funding provides CEVEC with adequate means to continue the global commercialization of the proprietary CAP® Technology platform.
The CAP® Technology platform comprises human CAP® and CAP-T™ expression systems and is used for the manufacture of complex biologics and therapeutic antibodies with human-like glycosylation and sialylation patterns. Starting with transient protein expression using CAP-T™ up to stable expression using CAP® cells, the CAP® Technology is applicable from initial research ideas up to GMP-compliant manufacturing of clinical samples and market supplies.
Dr. Rainer Lichtenberger, CEO of CEVEC comments: “We are delighted to have with Creathor Venture and NRW.BANK two first-class investors on board who value the unique strengths of the CAP® Technology and provide the resources required to finance the company’s ambitious growth objectives.”
Wolfgang Kintzel, CCO of CEVEC states: “The global market launch of CAP® und CAP-T™ in Europe, Asia/Pacific and the U.S. was very successful. This impressive success in such a short time marks a milestone in our goal to become the leading cell line supplier for protein production with human cell expression systems.”
Gangolf Ehlen, President of CEVEC’s supervisory board and previous lead investor concludes: “The overwhelming market success of the CAP® Technology after three years of hard work made the novel financing round a logic step which is all the more meaningful as we are in a difficult economic environment.”
Karlheinz Schmelig, Managing Director at Creathor Venture Management GmbH and Aristotelis Nastos, NRW.BANK, comment: “The global protein production market is ready for a high performance human expression system. CEVEC has a very strong R&D as well as management team and will accelerate to strengthen it´s global marketing & sales presence.”
About CEVEC Pharmaceuticals GmbH - www.cevec-pharmaceuticals.com
CEVEC Pharmaceuticals GmbH, operational since 2004 and located in Cologne, Germany, is a biopharmaceutical company that specializes in developing and producing therapeutic proteins and monoclonal antibodies with human glycosylation patterns. CEVEC’s novel proprietary and patent-protected human CAP™ and CAP-T expression systems are ideal for manufacturing complex biopharmaceutical molecules. CEVEC is licensing out its human cell-based expression platform as well as the biological product candidates in internal development through partnerships with renowned pharmaceutical and biotech companies.
About Creathor Venture - www.creathor.de
About NRW.BANK - www.nrwbank.de
About Sparkasse KoelnBonn - www.sparkasse-koelnbonn.de