Funding
Affectis Pharmaceuticals AG has announced that it has raised €3.3 million in the first tranche of a fourth round of private funding financing, with existing investors LSP, Aescap Venture, KfW, Bayernkapital and EMBL Ventures participating in the round.
At the same time, the company announced the promotion of Chief Financial Officer Alex Martin to CEO, succeeding founding CEO Herbert Stadler, who is retiring.
Martin brings over 20 years experience in the pharmaceutical industry, including roles at Novartis, where he was Vice President, Global Business Development & Licensing, and SmithKline Beecham where he held positions in sales, marketing, and business development. Immediately prior to joining Affectis in 2009, Martin served as Chief Operating Officer of Intercept Pharmaceuticals based in New York.
Affectis specialises in treatments for psychiatric disorders and inflammatory diseases. The company was a spin-out from the Max-Planck Institute of Psychiatry in 2004, and since then has advanced several compounds into clinical development, Its lead compound, cimicoxib, is currently completing a European Phase IIa study in depression.
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