Navigation Links
AFFiRiS AG: Capital Increase: AFFiRiS Brings Santo VC and MIG 11 on Board
Date:11/8/2011

VIENNA, November 8, 2011 /PRNewswire/ --

Santo VC GmbH has acquired a EUR 20 million stake in Vienna-based AFFiRiS AG effective immediately and has also secured an option for further capital increases in the future. At the same time, the German MIG fund increased its existing investment in AFFiRiS by EUR 5 million through its MIG 11 fund. As a result, AFFiRiS now has an additional EUR 25 million in equity at its disposal for financing its wide-ranging clinical development programme. The option granted gives Santo VC and MIG the opportunity to extend their stake in the Vienna-based biotech company by a further combined EUR 30 million.

Today, Vienna-based AFFiRiS AG announced a capital increase of EUR 25 million. EUR 20 million of this amount is contributed by Santo VC GmbH and EUR 5 million by MIG. Santo and MIG have been key investors in the biotech industry for a number of years. For Santo, the interest in Vienna-based AFFiRiS AG is the first of its kind outside Germany. This move means that AFFiRiS AG has succeeded again in continuing its wide and diversified financing strategy for its pre-clinical and clinical programmes. Over the past few years this strategy has been based on a mixture of venture capital from MIG funds, cash inflows from the license agreement with GlaxoSmithkline Biologicals as well as public sector funding and private funds from the Michael J. Fox Foundation.

Walter Schmidt, CEO and co-founder of AFFiRiS, commented on the latest financing success: "Having Santo on board, we have gained a partner who is financially strong and on top of that brings in professional expertise and an extensive industrial network. MIG on the other hand is a long-standing partner who is committed to contribute on an entrepreneurship-based attitude and has already given valuable impact to the company's development." Frank Mattner, CSO and co-founder, added: "Already at the start of discussions, it became obvious to all parties immediately, that there is a common understanding what the future development of AFFiRiS should look like as we implement the appropriate actions. We are delighted that Santo is appreciating AFFiRiS's potential by committing a substantial stake into the company."

Opportunities > Risks

Regarding his positive investment decision for AFFiRiS, Thomas Strüngmann explains: "We are excited about the opportunity to invest into this very promising biotech company. Seeing what Walter Schmidt and Frank Mattner have created and established with their top class team we remain highly impressed."

A further substantial argument for Santo to invest into AFFiRiS is related to recent developments in its key projects - in particular to the exciting progress of the ongoing Parkinson's project. Here, the aim is to deliver the world's first vaccine for Parkinson's disease - a project for which a Phase I safety and tolerability trial, supported by the American Michael J. Fox Foundation with almost USD 2 million, will start early 2012.The Parkinson's disease vaccine benefits from the company's experience in developing vaccines against Alzheimer's disease. In 2008, the company closed a licence agreement with GSK Biologicals, worth up to EUR 430 Mio. milestone-based payments.  

The basis for all these programmes is the company's AFFITOME® technology plus related know-how which allows the preclinical development of entire vaccine families with high specificity which are then moved quickly into clinical testing following the company's strategy called "clinical maturation".

Michael Motschmann, Management Chairman of the board of MIG Verwaltungs AG, on the most recent company developments: "AFFiRiS is an incredibly attractive investment. The company offers the unique combination of a validated platform technology and an approach of producing several vaccine candidates respectively, for diseases with unmet medical need and attractive markets. We are delighted to offer our investors another opportunity to invest in AFFiRiS through this capital increase."

If the ongoing projects develop as expected, the mutually agreed option for Santo and MIG could deliver another EUR 30 million in equity to the company.

About AFFiRiS AG (as of November 2011):

Based on the company's own patent positions, AFFiRiS develops tailor-made peptide vaccines for Alzheimer's disease, Atherosclerosis, Parkinson's disease, hypertension and several other conditions with urgent requirement for new treatments and attractive market volumes. Alzheimer's is the current lead indication. A license and option agreement for the Alzheimer's vaccine programme was concluded with GlaxoSmithKline in October 2008, triggering an up-front payment of EUR 22.5 million. The contract envisages (milestone-dependent) payments of up to EUR 430 million. An initial milestone payment of EUR 10 million was made in October 2009 followed by EUR 3.5 million as announced recently. AFFiRiS currently employs 83 highly-qualified staff at the Campus Vienna Biocenter in Vienna, Austria (http://www.affiris.com).

About Santo VC GmbH

Santo VC GmbH is the venture capital arm of Athos Service GmbH, the family office of the Strüngmann family.

MIG Funds

Based in Munich, MIG Funds ranks as one of Germany's most dynamic venture capital companies. Since 2005 MIG has been launching funds and has invested in over 25 innovative German and Austrian companies to date.

The MIG fund portfolio is managed by MIG AG. With a total volume of over EUR 500 million, the funds are marketed exclusively by AWAG (http://www.awag.ag) and are primarily directed at private investors.

MIG funds are conceived and drawn up by HMW Emissionshaus AG.

For further information on MIG funds, MIG AG and its investment portfolio, please visit the http://www.mig-fonds.de and http://www.mig.ag websites.

Contact AFFiRiS AG:
Julia Bock
Karl-Farkas-Gasse 22
1030 Vienna, Austria
T +43-1-798-15-75-303
E julia.bock@affiris.com
W http://www.affiris.com

Editing & distribution:
PR&D - Public Relations für Forschung & Bildung
Mariannengasse 8
1090 Vienna, Austria
T +43-1-505-70-44
E contact@prd.at
W http://www.prd.at



'/>"/>
SOURCE AFFiRiS AG
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. AFFiRiS - MIG-Fonds Increases Investment by Euro 3 Million
2. GlaxoSmithKline and AFFiRiS Sign an Exclusive Licence and Option Agreement for Therapeutic Alzheimers Disease Candidate Vaccines
3. AFFiRiS AG: Atherosclerosis Vaccine Development Receives EU Support
4. AFFiRiS AG: 1st Place in Venture Capital & Private Equity Awards for MIG Fonds and AFFiRiS
5. AFFiRiS AG: Interim Analysis of Clinical Phase I Data Triggered Decision to Move Alzheimers Vaccine Candidate AD02 into Clinical Phase II Testing
6. AFFiRiS AG: Vaccination Against Hypertension is Development Project No. 4 and has Already Been Awarded an FFG Grant of up to EUR 1.2 Million
7. MGT Capital Investments Reports Second Quarter 2008 Financial Results and Provides Update on Recent Developments
8. TVM Capital, Signet Healthcare Partners and Paul Capital Healthcare Enter into euro 26 Million Financing of SpePharm
9. Sonus Pharmaceuticals and OncoGenex Technologies complete business combination; OncoGenex Pharmaceuticals to commence trading on NASDAQ Capital Market today
10. Sinobiomed Retains CB Capital Partners as Financial Advisor to Maximize Shareholder Value
11. Aegis Analytical Corp. Showcases Discoverant at Inaugural Venture Capital in the Rockies Fall
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/16/2017)... ... May 16, 2017 , ... ... availability of its new ProxiMeta™ Hi-C metagenomic deconvolution service. ProxiMeta enables researchers ... or high-molecular-weight DNA extraction—speeding research insights at lower cost. , “We’re very ...
(Date:5/16/2017)... Village, CA (PRWEB) , ... May 16, 2017 ... ... personalized medicine technology and cancer diagnostics, has released its ClearID Lung Cancer blood ... altered in lung cancer, this new test is designed to quickly and accurately ...
(Date:5/16/2017)... ... (PRWEB) May 16, 2017 , ... ... Chinese Association of Orthopaedic Surgeons (CAOS), long-standing development partners Invibio Biomaterial Solutions, ... interbody spine surgery workshop to help expand knowledge of the implantation of ...
(Date:5/15/2017)... ... May 15, 2017 , ... Tunnell Consulting announced that ... “The Key Role of Specifications in Process Validation,” at the Process Validation Summit ... will bring together leaders from the pharmaceutical and biotech industries to explore processes, strategies ...
Breaking Biology Technology:
(Date:3/30/2017)... 2017  On April 6-7, 2017, Sequencing.com will host ... hackathon at Microsoft,s headquarters in Redmond, ... on developing health and wellness apps that provide a ... Genome is the first hackathon for personal genomics ... companies in the genomics, tech and health industries are ...
(Date:3/28/2017)... , March 28, 2017 ... Biometrics), Hardware (Camera, Monitors, Servers, Storage Devices), Software (Video ... and Region - Global Forecast to 2022", published by ... in 2016 and is projected to reach USD 75.64 ... 2017 and 2022. The base year considered for the ...
(Date:3/23/2017)... , March 23, 2017 The report "Gesture Recognition and ... Industry, and Geography - Global Forecast to 2022", published by MarketsandMarkets, the market ... CAGR of 29.63% between 2017 and 2022. Continue ... ... ...
Breaking Biology News(10 mins):