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Lophius Biosciences Closed Financing Round of €4.25 Million to Expand Diagnostic Developments into Tuberculosis and to Strengthen Marketing Activities
Lophius will use the proceeds to further leverage the potential of its T cell expertise and expand the company’s in-vitro diagnostic programs to tuberculosis as well to further strengthen the market penetration activities for its T Cell Tool and contract research portfolio.
The diagnostic development program for tuberculosis (TB) is based on Lophius’ proprietary Reverse T Cell Technology. This platform technology enables the differentiation of in-vivo activated T cells versus T memory cells and hence, in case of TB, allows the identification of patients with a contagious active disease and individuals having only a latent infection. “With an estimated 9.5 million new TB cases per year worldwide and 450,000 cases reported for Europe, Lophius addresses a highly unmet diagnostic need. The funding will allow us to shift gears and to start initiating pivotal studies in about two years time” Dr. Robert Phelps, Lophius’ co-CEO and Managing Director said. “The company will continue to strengthen its commercialization activities with the goal to continue to entering successfully the transplantation market with the CE marked in-vitro diagnostic solution T-Track® CMV for the management of antiviral CMV therapy and to further grow revenues in the T Cell Tool and contract research market” added Bernd Merkl, co-CEO and Managing Director of Lophius.
“We are excited to announce our continued support and expanded investment into Lophius Biosciences. The company meets our investment criteria by providing an attractive long term growth potential from the IVD development programs combined with a balanced risk profile by generating short term, profitable revenue from its tools and contract research business.”, commented Thomas Hartwig, Managing Director of VRD GmbH.
“With the Bavarian Growth Fund we support companies during the growth phase to gain access to the required capital. This helps companies like Lophius to achieve the next step in the company development. Beside Lophius we have invested about €15m so far. Together with the substantial leverage effect through funds from private investors, our activities strengthen the technology basis, the entrepreneurial culture and finally the competitive position of Bavaria.”, commented Ilse Aigner, Bavarian State Minister of Economic Affairs and Media, Energy and Technology.
Notes to Editors
About Bayern Kapital
Bayern Kapital GmbH, based in Landshut, was founded on the initiative of the Bavarian government in 1995. It is a wholly-owned subsidiary of the Bavarian LfA Förderbank. As the venture capital organisation of the Land of Bavaria, Bayern Kapital provides equity capital financing for the founders of young innovative technology companies in Bavaria.
Presently Bayern Kapital manages eleven investment funds with a total volume of around €340m. So far, it has invested almost €227m in 245 innovative companies in the fields of technology in various sectors including life science, software & IT, medical technology, materials and new materials, nanotechnology and environmental technology.
In this way, more than 5000 long-term jobs in sustainable companies have been created in Bavaria.
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