Genticel, a biopharmaceutical company that develops original vaccines for patients who are contaminated with the human papillomavirus, announced today that it was able to secure Eur18.2 million or US$23.7 million as additional funding.
The Munich, Germany based Wellington Partners headed the round that was also participated in by existing institutional investors like Amundi Private Equity Funds, IRDI, Edmond de Rothschild Investment Partners, IDInvest Partners and InnoBio Fund who is managed by future entity of bpifrance, CDC Enterprises. The additional funding will be utilized to further advance the key product lines of Genticel like the two therapeutic HPV vaccines.
Founder and CEO of Genticel, Benedikt Timmerman said, "The commitment from Wellington Partners, one of the most reputable life science investors in Europe, is further endorsement of Genticel's therapeutic HPV vaccine development. The Wellington life science team members are bringing outstanding clinical development and medical expertise to our shareholder base, both from therapeutic vaccines and from cervical cancer screening. They have immediately understood the unique properties of our lead product ProCervix. This investment will allow us to take ProCervix through a multi-center multi-national phase II program. It will further strengthen our database supporting the efficacy and safety of this highly novel, curative treatment for high-risk HPV-infections."
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