Bayer spin-out AiCuris raises €55M in one of largest rounds in German biotech

Funding

AiCuris, a specialist in antiviral and antibacterial compounds, has completed its second round of financing, raising €55 million from the existing shareholders. “This secures the further development of our pipeline,” said Helga Rübsamen-Schaeff, CEO of AiCuris, on one of the largest financing rounds in the German biotech industry for several years.

In the last few months, AiCuris, a spin-out from Bayer Healthcare, has made progress in the development of a new treatment against the Human Cytomegalovirus, which often leads to complications after organ or bone marrow transplantations, and is also a major infectious cause of birth defects and problems including hearing loss after birth. The efficacy and safety of the product, AIC246, was demonstrated in a Phase II trial.

The new money will be used for the further development of AIC246, and of other projects against Herpes simplex, HIV, Hepatitis B and C and multidrug-resistant bacteria.

The lead investor is Santo Holding of Andreas and Thomas Strüngmann, the former owners of the generics company Hexal.

AiCuris is interested in speaking to strategic partners from the pharmaceutical industry to out-license its Cytomegalovirus programme, which comprises three further compounds in addition to AIC246.