Investment
InterMed Discovery (IMD), a natural product drug discovery company, received an equity investment of €7.44 million from its partner Biotropics Malaysia Berhad, reinforcing the long-term collaboration between the two announced in September 2008.
The round strengthens Dortmund-based IMD’s financial position and paves the way for the next phase of its development. The money will be invested in the discovery and development of further functional food ingredients and used to fund their pharmaceutical pipeline. In return Biotropics gets access to IMD’s natural product database and technology to identify, develop and market active natural ingredients in markets including the US and Europe.
“This additional investment from [...] Biotropics, will further leverage the discovery and development of innovative natural products and will help to expand our pharmaceutical pipeline,” said InterMed’s managing director Bernard Becker. InterMed Discovery was formed in 2006 by the management buyout of the Natural Products Research unit of Bayer Healthcare.
http://www.intermed-discovery.com/
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