Activaero GmbH, a provider of controlled breathing technologies for inhaled therapeutic agents, completed a Series A financing totalling € 10.7m ($16m). The international consortium of investors was led by BioMedPartners AG (advising BioMedInvest LP II) and included VI Partners AG, Abalis Finance AG and Vesalius Biocapital I SICAR S.A.
The transaction was advised by MedVenture Partners GmbH.
The funds will enable the company to further develop its proprietary inhalation devices and strengthen business development activities for Activaero’s leading controlled inhalation technologies.
Commenting on the financing, Gerhard Scheuch, Chief Executive Officer of Activaero, said: “Securing venture capital support for Activaero is important for our strategy to further increase visibility and awareness within the pharmaceutical industry and provide superior products and technologies to our collaboration partners.
“The development and commercialization of our products and technology is now securely funded going forward”, he said.
In conjunction with the financing, Gerhard Ries of BioMedPartners, Arnd Kaltofen of VI Partners, Jean-Marie Luechinger of Abalis Finance, Christian Schneider of Vesalius Biocapital Partners and John Patton, founder of Nektar, have all joined Activaero’s Supervisory Board.
The Company is located in Gemünden (Wohra) and Munich in Germany and Dublin, Ohio in the USA.