Vasopharm, a biopharmaceutical company in Wurzburg, has successfully raised 20 million of new capital. The investment was led by Entrepreneurs Fund, Heidelberg Capital Private Equity and UK-based Fort Rock Capital. Among others, Bayern Kapital also participated in the round.
The EUR 20 million will fully fund a pivotal, European Phase III study with vasopharm's lead product VAS 203 in moderate to severe Traumatic Brain Injury (TBI). The first patient could be included in the first half of the year 2016.
“We have been extremely rigorous in analysis of our exceptional Phase II data”, says Vasopharm’s CEO Christian Wandersee. “We believe that, in VAS203, we have a drug which will provide physicians with a real opportunity to improve long-term outcomes in this devastating condition." The drug candidate constitutes an allosteric inhibitor of the enzyme NO-synthase, which is reported to play a key role in the development of traumatic brain injury. VAS203 has been granted orphan drug status for the treatment of moderate to severe TBI by the EMA.
Vasopharm has a long-standing company history and states to have raised EURO 28 million since its foundation in 1998. Now, at one blow, the company receives nearly the same amount for the next decisive development step.
We’ll keep our fingers crossed!
Further information about Vasopharm: http://www.vasopharm.com/R+%28and%29+D/Scientific+Background/:en