A consortium of leading life-science venture capital funds invests € 18.5 million in the German medical diagnostics company Curetis AG. This financing will enable Curetis to complete development of its innovative diagnostic products through to market entry.
Founded in August 2007, Curetis is a molecular diagnostic company focusing on the development of tools to test for severe infectious diseases. The new financing of € 18.5 million is provided by an international consortium, composed of four partners – including the existing investor aeris CAPITAL, which seeded Curetis with € 1.4 million in 2008. New syndicate members include: LSP (Life Sciences Partners), BioMedPartners as well as the ERP-Startfonds of the KfW Bankengruppe. MedVenture Partners GmbH supported Curetis in concluding the transaction.Curetis is developing universal molecular diagnostic solutions, initially focusing on severe bacterial infections; i.e. pneumonia. Given that globally, over 25 million people are diagnosed each year with pneumonia, there is a strong demand for new devices identifying timely and cost-effective treatment options.The investors’ commitment was driven by Curetis’ technology and know-how, as well as the promising market potential of its solutions. “Its products will solve a huge medical problem, making Curetis a very attractive investment. Hence the consortium is pleased to enable Curetis to further develop its products and commercialize them.” commented Dr. Jörg Neermann, Partner at LSP. Dr. Neermann will join the Curetis supervisory board. Along with aeris CAPITAL and BioMedPartners, LSP will assume a leading role in the investment consortium.„Curetis has made significant progress in product development, which encouraged us to continue after our initial investment.” explained the chairman of the supervisory board and aeris CAPITAL partner, Dr. Frank Mühlenbeck. The board will be further strengthened by the addition of Dr. Gerhard Ries, General Partner at BioMedPartners.„Curetis’ management is very pleased to have succeeded in attracting such wellknown investors with such profound expertise in the life-science-arena. In addition to their financial investments, all of them will contribute invaluable knowhow. The fact, that we could close this significant round with such a strong syndicate in today’s stressed financial markets is a testament to our investors’ confidence in Curetis’ potential”, commented the managing directors of Curetis AG Johannes Bacher and Andreas Boos.