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Fundraisings and IPOs

Date: 2011-05-03

Type of information: Fundraising

Company: ProFibrix (The Netherlands )

Investors: Vesalius Biocapital (Luxembourg) - INKEF Capital

Amount: €15 million ($22 million)

Funding type: series B follow-on financing and government credit

Planned used:

The proceeds of the financing will be used to progress the company’s lead product Fibrocaps into late stage clinical development, as well as to support the company’s other pipeline programs. Fibrocaps is currently being investigated in a prospective, multi-center Phase II study in multiple surgical indications at up to 20 sites, including major U.S. and Dutch academic medical centers. If this study confirms the positive results of the first Phase II trial, ProFibrix anticipates initiating a pivotal Phase III trial in early 2012, and file for approval by the FDA in early 2013.

Others:

ProFibrix has announced the successful closing of a series B follow-on financing. In conjunction with the financing and to support the company’s next stage of development towards commercialization. In addition to the private funding the company was awarded a government credit, bringing the total new funds available to the company for the progression of Fibrocaps™ to €15 million ($22 million). Fibrocaps™ is based on a mixture of two essential blood clotting proteins, fibrinogen and thrombin, and is a unique dry powder topical tissue sealant that rapidly stops bleeding after or during surgery.

Therapeutic area: Regenerative medicine - Hemostasis

Is general: Yes