Heparegenix, a Germany-based developer of therapies for acute and chronic liver diseases, raised €9m ($9.4m) in a series A round yesterday co-led by pharmaceutical firms Boehringer Ingelheim and Novo.
The corporates invested through subsidiaries Boehringer Ingelheim Venture Fund and Novo Seeds and were joined by public-private partnership High-Tech Gruenderfonds (HTGF), investment fund Coparion, development bank KfW and European Investment Fund (EIF), part of EU-owned financial institution European Investment Bank.
Founded in 2015, Heparegenix is aiming to treat acute and chronic liver diseases by restoring the ability of hepatocytes to regenerate. Hepatocytes form a critical part of the liver but lose their ability to regenerate when the organ is affected by an illness, resulting in loss of liver function and often death.
The series A money will go towards medicinal chemistry discovery programs and the preclinical development of drug candidates through investigational new drug filings. Heparegenix hopes to bring its first product candidate to a clinical trial in 2019.
Wolfgang Albrecht, CEO of Heparegenix, said: “I am excited to work with the very experienced founder team and with the strong syndicate of international investors. Heparegenix is in an excellent position to bring this new treatment concept forward to liver disease patients.”
– The original version of this article appeared on our sister site, Global Government Venturing.