Date: 2014-07-15
Type of information: Series A financing round
Company: amcure (Germany)
Investors: LBBW Venture Capital (Germany), KfW (Germany), MBG Mittelstaendische Beteiligungsgesellschaft Baden-Wuerttemberg (Germany), S-Kap Beteiligungen Pforzheim (Germany), BioM AG (Germany), private investors, German Ministry of Education and Research (BMBF) (Germany)
Amount: € 5 million
Funding type: series A financing round and grant
Planned used: amcure will use the funding to continue the development of their product candidates for treating metastasising tumours, which have resulted from the long-term work of Dr. Véronique Orian-Rousseau and her team at KIT. amcure’s series of development candidates specifically binds to a special isoform of the surface molecule CD44, thus interfering with central signalling pathways in tumour growth. This prevents angiogenesis and metastasising. The target structure of amcure’s development candidates, CD44v6, which was discovered in the 1990s by Professor Helmut Ponta’s group at KIT, plays a significant role with many types of tumours. Blocking the receptor CD44v6 opens opportunities for a wide-ranging application in tumour therapy. Assisted by KIT and subsidies from the Federal Government and Helmholtz Association, amcure has grown to become a leading company in this field.
Others: * On July 15, 2014, amcure, a spin-off from the Karlsruhe Institute of Technology (KIT), has closed a Series A financing deal amounting to a total of € 5 million. The funding comes from a consortium headed by LBBW Venture Capital, with participations from KfW, MBG Mittelstaendische Beteiligungsgesellschaft Baden-Wuerttemberg, S-Kap Beteiligungen Pforzheim, BioM AG as well as private investors. The company also receives subsidies from the German Ministry of Education and Research (BMBF) under their special programme Spinnovator, managed by Ascenion.
Therapeutic area: Cancer - Oncology
