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Thursday, 29 May 2008 00:00 |
Inveni Capital invests in Priaxon
Munich, Germany and Helsinki, Finland - May 29, 2008- Inveni Capital announced today an investment in Priaxon AG, a Munich, Germany based pharmaceutical service and development company. Inveni Capital was the sole investor in the financing round.
Priaxon has created access to one of the largest spaces of drug-like molecules in the drug discovery industry through a combination of a proprietary chemoinformatics technology with a leading Multi Component chemistry expertise. Priaxon offers this technology as a service to the pharmaceutical, agricultural, and cosmetics industry, as well as to academia. This service provides novel and chemically diverse small molecule candidates for biologic targets. In addition, Priaxon is developing proprietary new antibiotic candidates, which combine activity against gram-positive and gram-negative bacteria in one compound and show an exceptionally low resistance profile. Priaxon and Inveni Capital plan to jointly identify further proprietary therapeutic targets to which the Priaxon technology will be applied.
The funds raised will be used to grow Priaxon’s service business and to advance the preclinical development of the antibiotic candidates as well as new therapeutic programs.
Inveni Capital is a Finnish-German life science venture fund. Inveni extends hands-on entrepreneurial experience to guide early-stage companies to commercial success.
For further information contact:
Inveni Capital
Dr. Wolfgang Pieken
Inveni Capital GmbH
Rumfordstr. 10
D-80469 Munich
phone: +4989 23515702
email:
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
www.invenicapital.com
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Priaxon AG
Petra Bähr
CEO
Gmunderstr. 37a
D-81379 Munich
phone: +4989 4521308-
email: baehr@priaxon.
www.priaxon.com
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