CEVEC Pharmaceuticals Closes €6M Financing Round
CEVEC Pharmaceuticals, a Cologne, Germany-based biopharmaceutical company that specializes in developing and producing therapeutic proteins, vaccines and monoclonal antibodies with human glycosylation patterns, has closed a €6m financing round.
The round was led by NRW.BANK and Creathor Venture Fonds, with participation from ERP Startfonds of KfW bank.
The company intends to use the funds to continue to grow its protein and vaccine commercialization business of the proprietary CAP® Technology platform.
CEVEC also plans to develop other vaccines together with partners based on a further financing round, to be closed by the end of 2011.
Led by CEO Dr. Rainer Lichtenberger and CCO Wolfgang Kintzel, the company has developed proprietary and patent-protected human CAP® and CAP-T™ expression systems, which are designed to manufacture complex biopharmaceutical molecules and various vaccines. It is licensing out its human cell-based expression platform as well as its own Biobetter Candidates through partnerships with renowned pharmaceutical and biotech companies.