Germany: Ascenion receives equity in Protectimmun

Equity stake

Ascenion, an IP asset management company, has received equity, stated to be in the one digit range, from Protectimmun. The company has combined research from the Research Centre Borstel (FZB) and the Ruhr-Universität Bochum to develop a drug based on stable dust extracts that can protect children against hay fever and allergic asthma. Ascenion will assist Protectimmun in developing their product and ensure appropriate expansion of the patent.

Ascenion has provided support to Protectimmun since its founding in March 2007, acting as its exclusive commercialisation partner, and drew up the licensing agreement between the FZB and the company founders. The revenue accumulated by Ascenion will go to the Life-Science Foundation for the Promotion of Science and Research, which in turn funds further research projects.

Christian Stein, CEO of Ascenion, said: “In just two years collaboration with several life-science institutes in the Leibniz Association, we are delighted to have helped a start-up get off the ground. More and more children are suffering from allergic respiratory diseases. Protectimmun’s business idea therefore addresses and acute medical need and an attractive market.”

Protectimmun, first received start-up funding in February 2008 via the EU’s Framework Programme 7, and is developing a form of dust extract that can be administered in aerosol form as a nose spray. Studies have demonstrated the effectiveness of the technology in animal models and the next step is the identification of the active components in stable dust which provide protection against allergic reactions.

Marion Kauth, CEO of Protectimmun, said: “In addition, we are completing the preclinical toxicology studies, in order to clear the way for clinical trials. The increasingly comprehensive set of preclinical data also supports our position in negotiations with investors.”