Funding
Covagen, an ETH Zurich spin-off company pioneering the development of a novel class of protein therapeutics (Fynomers), has announced the closing of a financing round with Ventech joining as a new investor. The size of the investment was not revealed.
“The additional funding provided by Ventech validates the interest in our technology and discovery projects and will allow us to accelerate progress into development,” said Julian Bertschinger, Chief Executive Officer of Covagen.
Karl Nägler of Ventech, who will join Covagen’s board, said, “There continues to be significant interest in small binding proteins and we are convinced that Covagen is best positioned to fulfil the demand for differentiated pharmacology based on the versatility of its Fynomer platform.”
Covagen also announced two new members of its Scientific Advisory Board, with Christoph Lengauer, VP & Global Head of Oncology, Discovery Research at Sanofi-aventis, and Christoph Heusser, who has just retired from the post of Head of Biologics in Anti-inflammatory Diseases & Transplantation Research at the Novartis Institute of Biological Research, joining the board.
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