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Creathor Venture accelerates growth of SIRION BIOTECH with further investment
In addition to Creathor Venture the investors High-Tech-Gründerfonds, KfW, and Bayernkapital also joined the current round to further fund the young Munich based biotech. SIRION's core competence lies in the development and marketing of adenoviral and lentiviral vector technologies in the field of target validation.
A part of the new proceeds will be used to further promote already developed technologies and services. One focus will be an internationalization strategy to generate further clients in the EU and the US-market, where SIRION already has first prominent clients such as the FDA. In addition the funds will be used to further support the development of new vector-technologies that are essential for the vaccine-industry.
First patents were filed in 2010 and cover a technology that will be essential for developing new vaccines against human Cytomegalo-Virus, Human Immundeficiency-Virus or Tuberculosis.
Karlheinz Schmelig, Partner at Creathor Venture states, that the current market situation and the recent results of the internal research activities were the reasons for the investemnt: "SIRION was able to prove both a significant market need and demand for its products and showed that it is able to develop innovative products."
This statement is complemented by the management-team, Drs. Jürgen Flach (CEO) and Christian Thirion (CSO): "Due to the current round we will be able to raise the significant sales potential of our pipeline projects and launch new technologies in new markets such as the vaccine-market.
About SIRION BIOTECH
SIRION BIOTECH GmbH is a biotech company that produces genetically modified cells and is a technology provider in the area of viral vector systems. The company founded in 2005 is located in the Innovations- und Gründerzentrum Biotechnologie IZB in Martinsried near Munich. The expert in RNAi technology offers lead-through service projects in target validation, screening and drug discovery using front running techniques and assay systems. With its strong expertise in mammalian cell culture and viral vector technology SIRION BIOTECH serves as a contract research partner for preclinical R&D, and licenses vector technology for vaccine development. The academic team has more than 20 years of experience in mammalian cell culture and viral vector technology. Close cooperation with leading research institutes puts SIRION BIOTECH at the forefront for development of cell systems for pharmaceutical research. SIRION BIOTECH currently operates projects for major pharmaceutical and biotech companies in Europe and USA and has ongoing collaborations with leading academic and governmental research institutes. www.sirion-biotech.de
About High-Tech Gründerfonds
High-Tech Gründerfonds invests venture capital in promising technology companies that turn innovative concepts into viable businesses. Seed financing aims to help start-ups guide their innovation to the prototype or proof-of-concept stage or to market launch. High-Tech Gründerfonds provides seed financing of approximately €500,000. It supports high-tech companies by way of its investment managers and its highly-qualified network of coaches, investors and specialists. In individual cases it can invest up to a total of €2 m per company. The investors in this public private partnership are the German Federal Ministry for Business and Technology, the KfW Banking Group as well as the six industrial groups of BASF, Deutsche Telekom, Siemens, Robert Bosch, Daimler and Carl Zeiss. High-Tech Gründerfonds has an investment volume totalling approx. €272 m.
About Bayern Kapital and its Seed- und Clusterfonds:
Bayern Kapital was initiated in 1995 by the Bavarian Government within the program ""Offensive Zukunft Bayern" [Future Bavaria], to support young innovative Bavarian companies with equity funding. So far Bayern Kapital has invested approx. € 168 m in more than 200 innovative high-tech companies. As a regional partner Bayern Kapital offers its support and is currently managing a total volume of around €214 m.
About KfW banking group - ERP-Startfonds -
KfW finances and supports, among other things, business start-ups, small and medium-sized enterprises (SME) as well as investments in economic growth and employment projects in Germany. The ERP Start-up-Fund, administered and co-financed by KfW, offers equity financing for innovative, technology-based enterprises with excellent growth prospects. The fund finances research and product development as well as the launching of new products, procedures and services. KfW always cooperates with a lead investor and exclusively adopts market conditions.
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