Leukocare said Wednesday it raised a round of financing led by LifeCare Partners. A group of new investors and current shareholders also participated. Financial terms weren’t announced. Leukocare, of Martinsried/Munich, Germany, is a biotechnology company
Munich, Germany, 22 July 2015 – LEUKOCARE, a leading provider of stabilizing and protecting formulation technologies for proteins and other biologics, today announced the closing of its latest financing round providing growth capital to the company. The round was led by LifeCare Partners, a dedicated venture capital and private equity firm in the European healthcare sector, with participation from a group of new investors and current shareholders.
The financing will primarily be used to fund market access activities for a number of development projects based on LEUKOCARE’s Stabilizing and Protecting Solutions (SPS®) in the fields of vaccines, biopharmaceuticals and combination devices.
“We believe that LEUKOCARE’s SPS® formulation technology platform has the potential to bring a complete paradigm shift in improving thermal stability and shelf life of biological products and vaccines“, says Dr. Gerhard Ries, Managing Partner at LifeCare Partners. “Unlike other formulation approaches, the SPS® technology facilitates a quantum leap in stabilizing biological molecules by offering even outstanding protection during sterilization of biopharmaceuticals and bio-functionalization of medical devices as well as avoiding cold chain logistics for vaccines”.
As part of the financing, Dr. Gerhard Ries and Dr. Jean-Paul Prieels will join the supervisory board. Dr. Jean-Paul Prieels is a renowned industry expert in the vaccine field. He held various executive positions at GlaxoSmithKline, where he headed the vaccine research and development. “LEUKOCARE has developed an outstanding technology platform to develop exceptionally stable formulations for all kinds of biologics and particularly for vaccines”, says Dr. Prieels. “I am deeply impressed by the potential of the SPS® technology platform and looking forward to support its further development as well as its roll out based on my network and my expertise in the field of vaccines.”
”I am very proud to welcome the new investors as well as the new board members,” states Michael Scholl, CEO with LEUKOCARE. “The fact that dedicated industry experts decided to support LEUKOCARE both with capital as well as substantial input is a validation of the path that we are successfully pursuing. It is a further essential step to assure our position as a reliable and competent provider of innovative formulation technologies to the industries of biopharmaceuticals, vaccines and combination devices.”