Funding round concluded
Revotar Biopharmaceuticals AG has concluded a funding round of just under €4 million from existing investors bmp AG, MVC Unternehmensbeteiligungsgesellschaft GmbH and Deutsche Life Science GmbH, together with the new investor IBG Risikokapitalfonds I, which is managed by Goodvent GmbH.
Revotar, based in Henningsdorf, Brandenburg, specialises in the rational design of anti-inflammatory drugs. The new money will fund the ongoing clinical development of the company’s core product Bimosiamose, and the expansion of the portfolio.
Bimosiamose has reached Phase IIa in the treatment of psoriasis and asthma and Phase I in chronic obstructive pulmonary disease.
Oliver Borrmann, Chairman of bmp AG and future Chairman of the Supervisory Board of Revotar AG, said, “We are proud to have gained with IBG an experienced investor into biotechnology for Revotar. We now have the common aim to find further investors for Revotar by the end of this year, in order to successfully progress with all clinical projects.”
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