Earlier this week, leon-nanodrugs GmbH announced that it completed the first closing of its Series A preferred stock offering at EUR 18.5 million. The financing was led by TVM Capital Life Science with participation from Signet Healthcare Partners (USA), LifeCare Partners (Switzerland), CD-Venture (Germany), and Albany Private Equity Holding (Australia).
leon-nanodrugs was founded by a group of experienced drug development professionals in mid-2011. The company focuses on the reformulation of approved or promising small molecule and protein drug candidates based on its patented and award winning MJR-nanotechnology-platform.
The company develops novel oral and parenteral formulations by using GMP (Good Manufacturing Practice) compliant nanotechnology to improve bioavailability, solubility as well as dissolution rates. leon-nanodrugs will use the proceeds of this Series A financing to expand its profitable service business and to enter into high margin co-development deals with pharmaceutical partners.
Dr. Wolfgang Beier, Medical Director and Co-Founder, explained:
“With our unique network of interdisciplinary drug-development capabilities and our leading nanotechnology platform, we are a reformulation expert for high barrier generics for proactive product life-cycle-management or line-extensions as well as the development of novel nano- and micronized drugs.”
Cornelia Beier, Managing Director and Co-Founder of leon-nanodrugs stated:
“We are proud to partner with TVM Capital Life Science’s experienced investment team as the lead investor for our Series A financing. Their global reach will offer us unique opportunities to drive the commercialization of our product candidates on an international scale.”
Dr. Hubert Birner, Managing Partner with TVM Capital Life Science, added:
“This is TVM Capital Life Science’s first investment into a German company since 2009 and we are very pleased to reinforce our footprint as a lead-investor in the German market, especially as we are joined in this financing by reputable investors who have co-invested with us over many years in Germany and abroad. leon-nanodrugs provides an exciting next-generation-nanotechnology reformulation platform, validated by multiple service collaborations with prominent pharma partners, that will certainly change this market segment in the future – congratulations to the team at leon-nanodrugs for achieving one of the largest Series A financings this year.”
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