Germany-based biopharmaceutical company Rigontec has raised €9.5m ($11.9m) in series A funding from investors including High-Tech Gruenderfonds, the German state-operated venture capital fund backed by several corporates.
Development bank NRW.Bank, venture capital firm Wellington Partners and venture fund Boehringer Ingelheim Venture Fund were also involved in the round.
Rigontec is developing treatments for cancer and viral diseases. The company was launched in January as a spin-out from University of Bonn’s Institute for Clinical Chemistry and Clinical Pharmacology.
Annegret de Baey-Diepolder, co-founder and interim chief executive of Rigontec, said: “I am delighted that Rigontec has secured significant funding from experienced life sciences investors to support the development of this exciting new business.
“We believe that our proprietary technology, based on world-class research, has the potential to create a new generation of immunotherapies for the treatment of cancer and viral diseases.”