In-vitro diagnostics specialist Curetis AG successfully increases financing round to €24.5M

Curetis AG, an innovative molecular diagnostics company focusing on the development and commercialization of in-vitro diagnostic products for infectious diseases, announced an extension of its Series A financing, bringing the total size of the round to € 24.5 million. CD-Venture joined the funding as a new investor, while all of Curetis' existing VC investors participated in the round. Several private investors also continued to co-invest.

Following the appointment of Oliver Schacht, PhD, as the new CEO of Curetis last month, this financing transaction is the first step towards funding next year’s commercial launch and roll-out of the Unyvero product platform together with the first CE marked IVD test cartridge for pneumonia and antibiotic resistances in Europe. The additional funds will allow Curetis to pursue a more aggressive strategy towards initiating a US clinical trial in H2-2011 with a goal of filing for FDA approval in 2012. This Series A financing positions Curetis as a solidly funded molecular diagnostics company with near-term commercial-stage products and its unique platform solution addressing a clear unmet medical need in the rapid diagnosis of infectious diseases and antibiotic resistance.

“This is an ideal point in time to support Curetis,” said Christoph Boehringer, Managing Director and Partner of CD-Venture, Curetis’ new investor.“ The upcoming launch of the Unyvero platform and the start of the first pivotal trial of a Curetis IVD product are key milestones that mark the company’s entry into the next phase of corporate development and commercialization activities. Besides, the management team has established a track record for delivering on ambitious goals and brings together all the complementary skill sets to make Curetis a successful molecular diagnostics player in the space of severe infectious disease detection and antibiotic resistance testing.”

“We are very pleased that CD-Venture joined our strong syndicate of VC investors,” said Oliver Schacht, CEO of Curetis AG. “We are also happy to see that all of our current institutional investors such as aeris Capital, LSP Life Sciences Partners, BioMedInvest and KfW as well as many of our private shareholders have continued to subscribe to new shares. Their commitment is based on the excellent progress in R&D and clinical development and all the milestones the team has met over the past couple of months.” Schacht added: “From this solid financial position we will also evaluate further opportunities to accelerate our commercialization and broaden our pipeline. In doing so we are also considering adding another investor and raising additional capital as we continue executing on our plans.”

Curetis’ CEO Oliver Schacht will present an update on the company at the upcoming BioEquity 2011 in Paris. The presentation is scheduled for May 23rd, 2011, at 5:00 pm CET, Room Pont de Sully.