Date: 2013-01-29
Type of information: Fundraising
Company: Zytoprotec (Austria)
Investors: Baxter Ventures (USA)
Amount: € 4 million
Funding type: series A financing round
Planned used:
Others: Zytoprotec, a company developing novel peritoneal dialysis solutions and other treatments based on active cytoprotection, has raised € 2 million in financing from new investor Baxter Ventures towards a € 4 million Series A financing. Baxter Ventures is an investment initiative established by Baxter International in 2011 to invest up to USD 200 million in promising companies. As a result of the financing Norbert Riedel, Ph.D., Baxter’s Chief Science and Innovation Officer will join Zytoprotec’s Supervisory Board.
Zytoprotec is a clinical stage biotechnology company developing drugs exploiting active cytoprotection as a novel therapeutic approach. Research by Zytoprotec has shown that in major diseases the capability of cells to protect against stress factors such as metabolic products is inhibited, but can be restored by intervention with cytoprotective pharmaceuticals. The Company has established a research platform for the identification of cytoprotective compounds. Zytoprotec’s most advanced product, PD-protec™, is a next-generation solution for peritoneal dialysis (PD) designed to actively protect abdominal cells. The peptide used as the cytoprotective component of PD-protec™ is patent-protected by Zytoprotec. The product has completed a Phase I/II trial in 2012 and a Phase II trial is planned to commence in early 2013.
Since its inception in 2007, and prior to this new investment, the Company has raised € 6.7 million from its founders, from corporate, private and institutional investors, as well as from Austrian public agencies.
Therapeutic area:
