Date: 2011-08-06
Type of information: Grant
Company: ugichem (Austria)
Investors: The BioScience Venture Group (Germany) - Fonds 3 KG - V+ M GmbH & Co (Germany) - Swiss private investors - Austrian Research Promotion Agency (FFG) (Austria)
Amount: €2 million
Funding type: equity financing round - grant
Planned used: Ugichem will use the funds to validate its novel gene silencing drugs, the \"Ugimers\" (next generation antisense drugs), in terms of all relevant pharmaceutical and therapeutic parameters. First preclinical candiates for immunological indications will be also developed. Ugimers are not derived from natural nucleic acids, as antisense oligonucleotides or siRNAs, they are exclusively designed towards function.
Others: ugichem has closed a € 2 million follow-up financing. The present lead investor \"The BioScience Venture Group\" and the new investor V+ GmbH & Co Fonds 3 KG as well as notable Swiss private investors participed in an €1.4 million equity financing round.The company also received a €0.6 million grant from the Austrian Research Promotion Agency (FFG).
Therapeutic area: Autoimmune diseases – Inflammatory diseases
