Munich based leon nanodrugs announced that it completed the first closing of its Series A preferred stock offering at 18,5 Mio. EUR. The financing was led by TVM Capital Life Science, based in Munich and Montreal, with participation from Signet Healthcare Partners (USA), LifeCare Partners (Switzerland), CD-Venture (Germany), Albany Private Equity Holding from Australia and a non-disclosed Family Office from Germany.
leon-nanodrugs was founded by a group of experienced drug development professionals in 2011. The company focuses on the reformulation of approved or promising small molecule and protein drug candidates based on its patented MJR-nanotechnology-platform. leon-nanodrugs develops novel oral and parenteral formulations by using GMP (Good Manufacturing Practice) compliant nanotechnology to improve bioavailability, solubility as well as dissolution rates. The company will use the proceeds of this Series A financing to expand its service business and to enter into high margin co-development deals with pharmaceutical partners.
„This is TVM Capital Life Science’s first investment into a German company since 2009 and we are very pleased to reinforce our footprint as a lead-investor in the German market, especially as we are joined in this financing by reputable investors who have co-invested with us over many years in Germany and abroad”, states Dr. Hubert Birner, Managing Partner with TVM Capital Life Science.