GANYMED increases Series C Financing in Second Closing to Euro 37.2 Million

Hans-Beat Gürtler joins GANYMED Supervisory Board

(PresseBox) ( Mainz, )
GANYMED Pharmaceuticals AG, a privately held biopharmaceutical company developing highly specific and effective monoclonal antibody therapeutics against solid cancer, today announced a second closing of Euro 3.5 million to its Series C funding, bringing the total for the round to Euro 37.2 million (USD 50.7 million) in equity. The capital increase was fully subscribed by ATS Beteiligungsverwaltung GmbH, Munich, who already participated in the first closing.

At the same time, GANYMED announced the election of Hans-Beat Gürtler as a new member of the Supervisory Board. Mr. Gürtler replaces Dr. Harald Poth, who will continue to represent LBBW as observer to the Supervisory Board.

Dr. Rainer Wessel, CEO of GANYMED, commented:

"This additional funding from ATS will allow us to further leverage the development of our cancer antibody projects. And we very much welcome Hans-Beat Gürtler as member of the Supervisory Board. GANYMED will benefit strongly from his extensive experience."

Dr. Thomas M. Rinderknecht, Chairman of the Company's Supervisory Board, added:

"I am delighted to welcome Hans-Beat Gürtler on our board. His outstanding experience will contribute greatly to validate GANYMED as one of the preeminent cancer antibody companies. The additional funding further shows the support and trust of important investors in GANYMED and its outstanding team of scientists."

Mr. Gürtler commented:

"I am delighted to be joining GANYMED's Supervisory Board and hope to contribute to GANYMED's future success in developing truly novel antibody therapeutics against solid cancers with high unmet medical needs."

Hans-Beat Gürtler brings extensive management, marketing and financial experience from more than 30 years with Ciba-Geigy's and Novartis' agricultural and animal health businesses, both in Switzerland and abroad. Until 2002, he was CEO of Novartis' Animal Health business where, under his responsibility, the business quadrupled to a size of more than CHF 1 billion turnover and over 2,200 staff world-wide. Mr. Gürtler also has extensive experience in Mergers and Acquisitions. In late 2002, he joined VARUMA, a private investor. Hans-Beat Gürtler currently serves as a board member and president in several companies.
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