NEWS
December 15, 2009
Molecular Partners Secures CHF 46 Million in a Series B Financing
 
ZURICH-SCHLIEREN, SWITZERLAND, DECEMBER 15, 2009. Molecular Partners AG, a pioneer in the development of DARPins as next generation protein therapeutics, has announced the closing of its Series B equity investment round securing CHF 46 million (€ 30 million, $ 45 million). The round was led by new investor Essex Woodlands Health Ventures, a leading venture capital and growth equity firm in the healthcare industry. All existing investors also participated in the round, including Index Ventures, Johnson & Johnson Development Corporation, BB Biotech Ventures and Endeavour Vision. This increases the total amount raised by Molecular Partners to CHF 64.5 million since 2007.

The new funds will enable Molecular Partners not only to advance its lead compound MP0112, a best-in-class VEGF antagonist, into clinical proof of concept studies in two indications in ophthalmology, but will also support the development of Molecular Partners’ broad proprietary pipeline of preclinical DARPin candidates. As novel biologics, DARPins combine the advantages of monoclonal antibodies with many of the properties of small molecules. Molecular Partners is collaborating with Centocor Research & Development, Inc. in the development of DARPins for two undisclosed targets. The investment will see Dr. Petri Vainio, Managing Director at Essex Woodlands, join the board of directors at Molecular Partners.

back
partner of the European Tech Tour "VC is about commitment to Entrepreneurs. Endeavour Vision team members with whom I have worked were always there when I needed them, in good and challenging times"
José Franca, Co-Founder, Chairman, President & CEO, Chipidea Microelectrónica SA