vasopharm Closes €9.5 million Financing Round
Würzburg, Germany – July 11, 2019: vasopharm GmbH, a private biopharmaceutical company developing a novel treatment for traumatic brain injury (TBI), today announced the successful completion of a €9.5 million financing co-led by HeidelbergCapital Private Equity and EF Investments. Existing investors Bayern Kapital, Future Capital, clients of Hanseatic Asset Management and Ringtons Holdings also participated in the round. In addition, vasopharm welcomed Creathor Ventures as new investor and Christian Leikert, Partner at Creathor Ventures, joins vasopharm’s board of directors.
vasopharm’s lead product, Ronopterin (VAS203), is in Phase III development for the treatment of moderately to severely injured closed head TBI patients. TBI is the leading cause of death and disability among young adults in the developed world and there is no existing drug treatment available1.
Ronopterin, an allosteric iNOS (inducible Nitric Oxide Synthase) inhibitor, is currently in a 220 patient pivotal European NOSTRA III (NO Synthase in TRAumatic Brain Injury) trial which is on course to complete recruitment in Q4 of this year. vasopharm’s NOSTRA III is the most advanced commercial pharmacological TBI programme currently in human clinical trials in the world.
The funding will enable vasopharm to complete Chemistry, Manufacturing, and Controls (CMC) scale up and stability testing in preparation for commercial scale production, ahead of the potential filing of a Marketing Authorization Application (MAA) to the European Medicines Agency (EMA). In addition, the company will explore additional indications which it believes to be mechanistically similar.
Christian Wandersee, Chief Executive Officer of vasopharm, commented: “Following the DMC recommendation to continue the NOSTRA III trial as per protocol, we are delighted to close this funding round, and now have the resources to complete all necessary steps to support a possible clinical data submission in 2020. We are pleased to welcome Creathor Ventures to vasopharm and would like to thank our existing investors for their continued support. This funding will enable us to develop and deliver an essential therapeutic option to both physicians and patients who experience the devastating and life-long consequences of TBI."
Annually, in Europe alone, head trauma is the cause of about 2.5 million emergency room visits, roughly 1,000,000 hospital admissions, nearly 75,000 deaths and approximately 100,000 cases of severe long-term disability (e.g. functional and cognitive disorders, learning disabilities). The global economic burden of TBI is estimated at about $400 billion also taking indirect costs into consideration (e.g. productivity loss).
- Mary Clark, Eva Haas, Hollie Vile