Cevec Pharmaceuticals, a Germany-based developer of biopharmaceuticals and vaccines, has raised €2.8m ($4m) in its series C round from a consortium including local pharmaceutical distributor Midas Group.
Venture capital firm Peppermint Venture Partners led the C round using money from the €31m Charité Biomedical Fund investing on behalf of the Germany-based medical training university Charité – Universitätsmedizin Berlin. Additional financing came from existing investors, venture capital firm Creathor Venture and state development bank of North Rhine-Westphalia, NRW.Bank.
In July last year, Cevec raised €6m from a consortium also including the ERP Startfonds of KfW bank, following €4m in November 2009.