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Apogenix raises 27.5 million euros

Apogenix GmbH, a biopharmaceutical company developing innovative drugs based on the targeted modulation of apoptosis (programmed cell death), announced the closing of its second financing round on the 30th of April 2008.

The 27.5 million euros (approx. 44 million USD) will be dedicated to the expansion of Apogenix’ research and development programmes for innovative therapeutics to treat diseases such as “acute graft-versus-host disease” (aGVHD) and cancer.

dievini Hopp BioTech holding GmbH & Co. KG, the investment company of SAP co-founder Dietmar Hopp, was the main investor in this Series B round. Moreover, the German Cancer Research Centre (DKFZ) has the option to invest an additional 0.5 million euros under the terms of the investment agreement, potentially increasing the total amount of investment to 28 million euros. Such an investment provides the DKFZ with a first-time opportunity to directly invest in a company focussing on the treatment of cancer and related diseases.
Apogenix Labor2 Kl
The funds enable Apogenix to further develop innovative protein therapeutics (Photo: Apogenix)

Financing round enables Apogenix to develop APG101 further

“Since our initial investment in November 2005, Apogenix has made significant progress with its development programmes,” said Dr. Friedrich von Bohlen, Chairman of the Advisory Board and Managing Director of dievini Hopp BioTech holding GmbH & Co. KG. “We are confident that Apogenix will use the new funds to successfully develop its product programmes of novel protein therapeutics further, based on the modulation of apoptosis. We are also excited about the excellent progress made with APG101, which is expected to enter clinical phase I trials shortly.”
(Photo: Apogenix)
“This latest financing round will expand our cash reach well into 2010,” said Dr. Thomas Höger, CEO of Apogenix. “By then, our goal is to reach clinical proof-of-concept with our lead project APG101. In addition, we have plans to carry out the preclinical programme which will allow Apogenix to initiate clinical trials with a second compound that we are currently working on.”

“Dr. Josef Puchta, Member of the Management Board of the German Cancer Research Centre, added: “As a spin-off of the German Cancer Research Centre, we believe that Apogenix is an ideal model of translating the research findings of our scientists into innovative treatment options for severely ill people. We think that an option for a cash investment provides our institution with considerable potential and also validates the commercial relevance of our R&D collaborations with biotechnology companies.”

Apogenix

Apogenix is a spin-off of the German Cancer Research Centre (Photo: Apogenix)
Apogenix is a biopharmaceutical company developing innovative drugs which exert their therapeutic effect by targeted modulation of apoptosis (programmed cell death). Apoptosis is a natural, highly regulated mechanism to clear the body of old, damaged or abnormally transformed cells. In many diseases, this process has become out of balance, causing either uncontrolled removal of healthy cells and tissue (e. g. acute graft-versus-host disease, stroke and spinal cord injuries) or a failure to remove damaged and abnormal cells (e.g. in case of tumours).

Apogenix is a spin-off from the German Cancer Research Centre (DKFZ), and is based in Heidelberg, Germany. In 2005, the company received 15 million euros in a Series A financing round from the family of the renowned biotech investor and SAP co-founder Dietmar Hopp.

Source: Apogenix - 30th April 2008
Website address: https://www.gesundheitsindustrie-bw.de/en/article/news/apogenix-raises-27-5-million-euros