Curacyte raises E7m in private placement

TVM Ventures and other European life sciences investors led the placement. Curacyte will use the funds to become a fully integrated healthcare company.

Curacyte AG has raised E7m to start operations as a new, research-based biotechnology company located in the BioRegio Munich, a Bavarian cluster of biotechnology companies. The financing round was led by TVM Techno Venture Management and included a consortium of European life sciences investors.

Curacyte uses proprietary technology platforms in the areas of oncology, immunology and haematological disorders. Curacyte's oncology platform is based on the discovery of new biochemical entities that appear in various malignancies and play a role in tumorgenesis. Its business strategy calls for continued identification and selective acquisition of technologies that match the company’s current portfolio criteria and core competencies.

Dr. Helmut Giersiefen, chief executive of Curacyte, said: “Curacyte brings together a number of innovative biotechnology platforms and a set of unique competencies in research and product development. It represents an exciting opportunity for building a robust health science venture. The funds will support us in developing Curacyte into a fully integrated health science company that participates in all important parts of the value chain with a portfolio of innovative therapeutic and complementary diagnostic products in areas of unmet medical need.”

Dr. Alexandra Goll, partner at TVM and Curacyte's chairman of the board, said: “Curacyte holds the exclusive rights to two biological technologies that establish the basis for the identification, development and product offering of innovative new therapeutic interventions in the areas of oncology and immune deficiencies. We are confident that the experienced team of founders and managers will be able to convert this scientific advantage into a real business opportunity.”

Curacyte AG is located in the center of Munich and has 15 employees, including 10 research scientists.