Lumativa raises €4M in extension of first round

Funding

Lumavita AG has raised CHF6 million (€4 million) in an extension to its first round of funding, initiated in September 2008, bringing the total for the round to CHF24 million (€16 million).

The money has come from a new investor, HealthCap, and an existing investor, Endeavour Vision. Magnus Persson of HealthCap and Olivier Valdenaire from Endeavour Vision will join Lumavita’s board.

In March, Lumavita received preliminary marketing approval in Switzerland for its first product, FemiFect (pentamycin), for the treatment of all three causes of vaginitis. The funds raised will be used to a marketing network for FemiFect in anticipation of its launch and to finance two on-going development projects.

Nicholas Benedict, CEO of Lumavita, said, “Our priorities are to gain FemiFect marketing approvals and launch the product in our target markets, alongside completing the development of both the high-dose formulation of FemiFect and of LMV-601, an anti-viral currently under evaluation for the treatment of cervical human papilloma virus.”