Exit
The pharmaceutical company Apogepha Arzneimittel GmbH has purchased a majority stake in UroTec GmbH, a cell therapy company set up with public money in 2005. The deal provides a profitable exit for the founding investors High-Tech Gründerfonds, Sächsische Aufbaubank (Saxony Development Bank) and Technologiegründerfonds Sachsen (TGFS) of Leipzig.
As an established manufacturer of urology drugs, Apogepha is an ideal partner for the UroTec, which specialises in using a patient’s own cells to generate new tissue for repairing urinary organs.
Sören Liebig, Urotec’s managing director and founding shareholder, said, “With Apogepha’s participation we intend to expand UroTec’s [position] in the development and application of regenerative therapies in the field of urology.” The aim now is to obtain European marketing approval for UroTec’s first product, MukoCell, and begin marketing it internationally.
Apogepha’s investment also means a strengthening of Saxony as a biotechnology centre, and will create jobs in research, development and production.
“We are pleased that Apogepha has recognised the potential of the UroTec technology and will now continue to [foster] its development and market launch as a strategic investor,” says Marco Winzer, Investment Director at High-Tech Gründerfonds. This transaction demonstrates that the early-stage projects financed by High-Tech Gründerfonds can be of major relevance to medium-sized industry.
Apogepha specialises in the development, production and marketing of urology medications. The Dresden-based family business offers a wide range of products for treating urological diseases and is among the leading makers of urology drugs in Germany.
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