Wellington Partners and Gilde Healthcare have co-led an investment round in Munich, Germany-based Definiens. Existing investors Cipio Partners and TVM Capital also participated.
Wellington Partners, a leading pan-European venture capital firm, today announced that it acted as lead investor in a € 15 million growth financing round at Definiens AG, Munich, Germany. Wellington invested from its new Wellington Partners IV Life Science Fund, which was closed in September 2013. Gilde Healthcare co-led the financing round and was joined by the other existing investors Cipio Partners and TVM Capital in the financing.
The new funds will allow Definiens to grow its global business in digital pathology image analysis and expand into digital tissue diagnostics. Major investments will be made in executing the company’s Tissue Phenomics strategy, enabling partnerships with leading medical centers and pharmaceutical companies to advance the diagnosis and treatment of cancer. Tissue Phenomics is based on Definiens’ proprietary Cognition Network Technology®, invented by Nobel laureate and founder Prof. Gerd Binnig and involves a unique big data approach to develop new tissue based diagnostic tests for oncology and immunotherapy. Using these new diagnostic tests will allow for better prediction of patient outcomes and identification of drug responders, thereby bridging the gap between genomic data and cancer outcomes.
Dr. Rainer Strohmenger, General Partner and Managing Director at Wellington Partners, commented: “We have been following Definiens for many years and have always been impressed by the visionary concept and exciting technology the company has. We believe that Definiens now is approaching an inflection point which will have a significant impact on the growth potential and strategic value of this business for the leading players in imaging, diagnostics and oncology drug development.”
Thomas Heydler, CEO at Definiens, stated: “Wellington Partners is one of the few investors experienced in both diagnostics and healthcare IT with a strong track record of successfully building and capturing value from businesses in these areas. We are honored to add Wellington to our investor base and welcome Dr. Strohmenger to our Board of Directors. This financing will allow us to pursue our aggressive growth strategy to further expand our global leadership in Tissue Phenomics.”
Dr. Gerald Möller, Chairman at Definiens AG, added: “The use of state-of-the-art information technology in medicine will dramatically improve the way patients will be diagnosed and treated and the way new drugs and diagnostic tests will be developed. This change will not only lead to improved patient outcomes but also drive personalized medicine forward, and I am convinced that Definiens will play an important role in accelerating this change, especially in the fields of pathology, cancer, and immunotherapy. The fact that we have attracted this significant financing with new lead investor Wellington is another confirmation of Definiens’ strong position.”
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), NEUWAY Pharma, Oxagen, Quanta, Sapiens, Sensimed, Symetis, ImmobilienScout24 (acquired by Deutsche Telekom) and Spotify.
Definiens is the global leader in Tissue Phenomics™ for discovery and diagnostics development in oncology and provides image analysis solutions for life sciences. Definiens’ technology provides detailed tissue biomarker readouts from slide images and enables the correlation of this information with other key clinical or genomic information, an approach known as Tissue Phenomics™. Definiens helps pharmaceutical and biotechnology companies, research institutions, clinical service organizations and pathologists to generate new knowledge and support better decisions in research, diagnostics and therapy.
Definiens’ vision is to open new fields of research, to contribute to development of personalized medicine, and to significantly improve the quality of patients’ lives. Definiens is headquartered in Munich, Germany and has its North American headquarters in Carlsbad, CA.