Wellington Partners has led a series A financing round at German-based NEUWAY Pharma GmbH. The business is the first spin-off from Life Science Inkubator in Bonn. NEUWAY is focusing on the preclinical and clinical development of innovative therapeutics for treatment of orphan brain diseases.
Wellington Partners today announced that it acted as lead investor in a € 2.7 million series A financing round at NEUWAY Pharma GmbH, the first spin-off from Life Science Inkubator GmbH (“LSI”) in Bonn.
NEUWAY is focusing on the preclinical and clinical development of innovative therapeutics for treatment of orphan brain diseases based on its proprietary CNS drug delivery platform. The company also intends to partner its drug delivery technology for other CNS indications.
NEUWAY Pharma GmbH had been founded in April 2014 as the first spin-off from Life Science Inkubator GmbH, Bonn, with main shareholders LSI and Dr. Heiko Manninga, the initial Managing Director and Chief Scientific Officer of NEUWAY. Dr. Lucio van Rooijen, who had advised LSI for the last 12 months on the spin-off, also became one of the founding shareholders, as well as Dr. Stephan Rapp, Managing Director at biovenco consulting GmbH. The project had been incubated within LSI for the last 4 years and supported with approx. € 2.3 million in research funding by the Federal Ministry of Education and Research.
Dr. Heiko Manninga, CSO at NEUWAY, said: “We are excited to now jumpstart our commercial drug development activities, backed by such a strong lead investor as Wellington Partners, who has already added significant value to our development planning and strategy prior to investing. We believe that our technology effectively addresses one of the most important bottlenecks in CNS drug development.“
Dr. Joerg Fregien, Managing Director at Life Science Incubator GmbH and Vice Chairman of the NEUWAY Advisory Board, commented: “NEUWAY Pharma has been the most advanced project within LSI and with this spin-off has become an independent company with a great potential. We strongly believe in this technology, which has been incubated within LSI for several years, and we will provide all our support to make NEUWAY a showcase for the concept of LSI.”
“If you find a way to transport any kind of molecules through the blood brain barrier and into the neurons and other cells of the CNS you may have the key to treat many life-threatening brain diseases much more effectively, in particular genetic diseases, which represent one of the largest unmet medical needs today”, added Dr. Rainer Strohmenger, General Partner at Wellington Partners and Chairman at NEUWAY. “This is why we are strongly committed to this project, and both my partner Prof. Dr. Erich Schlick and I will very actively engage on the Advisory Board.”
Dr. Rainer Strohmenger
Tel: +49 89 21994116
About Wellington Partners
Wellington Partners is among the most successful pan-European Venture Capital firms. With more than € 850 million under management and offices in Munich, London and Zurich, Wellington Partners invests in start-up companies throughout Europe that have the potential to become global leaders in the areas of digital media, resource efficiency and life sciences.
Since 1998, Wellington Partners has invested in more than 100 companies, including publicly listed firms like Actelion, Evolva, Genticel, Implanet, Noemalife, Oxford Immunotec, Supersonic Imagine, Wavelight (acquired by Alcon) and Xing as well as privately held companies like AyoxxA, Grandis (acquired by Novartis), immatics, invendo medical, MPM Medical, MTM Laboratories (acquired by Roche), Oxagen, Quanta, Sapiens, Sensimed, Symetis and Spotify.
About Life Science Inkubator
The Life Science Inkubator GmbH (LSI) offers an incubation concept unique in Germany. Located at the center of advanced european studies and research (caesar), Bonn, LSI evaluates and develops innovative research projects in biotechnology, pharmacology and medical technology. The projects that LSI undertakes are in a very early stage and are developed towards financial maturity and marketability.