Zimmer BioTech, a Neu-Ulm, Germany-based drug development startup, raised €7m in funding.
Backers included Zimmer MedizinSysteme GmbH, the medical device producer which spun off the company, and High-Tech Gründerfonds.
The company will use the funds to continue to develop a new therapy to combat skin cancer
Founded in October 2016, Zimmer BioTech is advancing “Alevin deep”, a drug based on the compound 5-Aminolevulinic acid (ALA), which is used in the treatment of actinic keratoses in combination with photodynamic therapy (PDT). The spin-off also fulfils the legal requirements in the field of pharmaceutics, as a quality management system focusing on pharmaceutical products has been put in place.
In the near future, Alevin deep is set to be tested on humans as part of a clinical trial, with approval anticipated in 2020.
FinSMEs
10/08/2017