Heidleberg: Apogenix gains investment for anti-apoptosis drug development

Funding round completed

Apogenix, a biotech spin-out from the German Cancer Research Center (DKFZ), has secured €28 million in a series B financing round led by Dievini Hopp BioTech GmbH & Co. KG. Under the terms of the investment agreement the German DKFZ, has the option to invest a further €0.5 million.

Apogenix develops drugs that modulate programmed cell death, or apoptosis. Following financing from biotech investor Dietmar Hopp, co-founder of SAP, in 2005, Apogenix has developed APG101, an orphan drug with potential to prevent graft-versus-host disease, stroke or spinal cord injuries, by preventing uncontrolled apoptosis of healthy cells and enhancing the removal of damaged or abnormal cells, in particular tumour cells.

Fridedrich von Bohlen, from Devini Hopp BioTech GmbH & Co. KG, said: “We are confident that Apogenix will use the new funds to further successfully develop its product programs of novel protein therapeutics based on the modulation of apoptosis. We are also excited about the good progress made with APG101 which is expected to enter clinical phase I very soon.”

Dr Thomas Höger, CEO of Apogenix, said: “This latest financing round will expand our cash reach well into 2010. By then our goal is to reach clinical proof-of-concept with our lead project APG101. In addition, we plan to carry out the preclinical program allowing Apogenix to initiate clinical trials with a second compound in our pipeline.”

This financing round is the first direct investment by DKFZ in a company that focuses on cancer treatment and related diseases. Dr Josef Puchta, from the DKFZ management board, said: “As a spin-out from the German Cancer Research Center, we believe that Apogenix is an ideal model for translating research findings of our scientists into novel treatment options for severely ill people. We think that an option for a cash investment provides our institution with considerable upside potential and also validates the commercial relevance of our R&D collaborations with biotech companies.”