Funding round completed
Revotar Biopharmaceuticals AG today announced the closing of a first-round financing of €5.3 million. New investor IBG Risikokapitalfond I, which is managed by Goodvent Beteiligungsmanagement GmbH & Co KG, was joined by Deutsche Life Sciences GmbH and MVC Unternehmensbeteiligungsgesellschaft mbH, in the first closing. In a second closing, BFB BeteiligungsFonds Brandenburg GmbH came in as new investor and was joined by bmp AG.
Beate Bettecken of IBG will represent the investment firm Revotar’s board. The investor syndicate is committed to invest up to an additional €3 million based on certain preconditions being met. With this round the inflammatory diseases specialist has raised more than €8 million since August 2007.
“We are proud to have convinced two more experienced VCs to invest in Revotar and its promising pipeline, which is also validated by an undisclosed pharma partner in the US,” said Horst Witzel, Vice-Chairman of Revotar´s Supervisory Board and a former CEO of Schering AG.
“The funds will be used to advance the further clinical development of our lead candidate Bimosiamose into larger Phase II studies and to accelerate the preclinical development of other projects,” said Martin Pöhlchen, CEO of Revotar.
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