Dresdner leads E40m round for DeveloGen

The genomics company develops treatment for diabetes and obesity.

Dresdner Kleinwort Capital today announced a E40m round of financing for DeveloGen, a genomics company based in Göttingen.

The company said it would use the money to finance corporate growth.

New investors in the round include BdW; Deutsche Venture Capital; and Commerz Beteiligungsgesellschaft.

Existing investors supporting the financing include Techno Venture Management; Global Life Science LP; Industrie Management Holding; Dansk Kapitalanlaeg; and Technologie-Beteiligungs-Gesellschaft der Deutschen Ausgleichsbank.

DeveloGen is a genomics company that uses fruitfly genes as a model for developing medicines for obesity and diabetes. It was founded by Herbert Stadler. Last year, DeveloGen bought HepaVec, another genomics company also founded and run by Stadler.

Dresdner Kleinwort Kapital is the private equity arm of investment bank Dresdner Kleinwort Wasserstein. It manages about E4bn in equity and mezzanine funds and makes investments in three segments: mid-market, expansion and buyout.