Affectis closes €12 million round, strengthens team

Round closed

Affectis Pharmaceuticals AG, of Munich, which is developing treatments for depression and schizophrenia, has closed a €12 million third round.

The round was led by Aescap Venture, a new investor in Affectis. All existing investors participated in the round. In addition, Affectis has strengthened its management team and Advisory Board. Michael Bös, previously director of chemistry at Boehringer Ingelheim, has joined Affectis as vice president, research and development. Domenico (Dinko) Valerio, co-founder and general partner of Aescap Venture, will join the supervisory board of Affectis.

Affectis will use the proceeds round to advance its product candidates, which target P2X7, an ion channel involved in neuroprotection, the modulation of inflammatory processes, and in neurotransmission in the hippocampus region of the brain.

Studies published by Affectis earlier this year demonstrated a strong association between a genetic variant of the receptor gene and the onset of depression and bipolar disorders.

Herbert Stadler, CEO, said: “We are very excited to welcome Michael Bös as VP Research and Development. Michael has twenty years of experience in drug discovery and development with major pharmaceutical companies, such as Roche and Boehringer Ingelheim, and has exceptional expertise in projects targeting CNS diseases.

Dinko Valerio added: “P2X7 holds the promise to become the first truly novel target for the treatment of depression in more than a decade.”