The amount of the deal was not disclosed. As part of it, Valentina Reiner, co-founder of APR, will resign from the board of APR while maintaining her management role within the company. Alexander Asam, the advisor of HBM BioCapital II LP, will become a member of the Board of Directors of APR.
Led by Paolo Galfetti, CEO and co-founder, APR identifies, develops and licenses science driven, value added products designed to address patient or consumer needs in selected therapeutical areas on a global basis. In particular, APR is currently focused on 2 areas: (i) internally developed and financed (alone or together with our co-development partners) proprietary, value added products to be licensed to healthcare companies for their commercialization, and (ii) support to third party projects by offering added value R&D services under contract and fee for service arrangements.