Germany-based biotechnology company Zedira licensed development and marketing rights for ZED-101, its chemical blocker for treating celiac disease, to pharmaceuticals company Dr Falk on Friday.
High-Tech Gruenderfonds, the venture capital firm backed by the German government and several Germany-based conglomerates, led Zedira’s series A round in October 2007, investing €500,000 ($350,000).
High-Tech Gruenderfonds was later joined by clinical diagnostics and food analysis firm R-Biopharm in funding Zedira’s series B round in May last year.
As part of the current licensing agreement, Dr Falk will make an upfront payment to Zedira, with potential milestone payments and royalties on the way. In return, Dr Falk will take over preclinical and clinical development and marketing of ZED-101.