Leukocare AG, a biotechnology company specialised in the field of biopharmaceutical formulation development, has closed a USD17.5 million (EUR 14.6 million) financing, led by Petrichor Healthcare Capital Management, with participation from existing Leukocare shareholders.
The financing consists of a USD15 million convertible loan and a USD2.5 million equity investment from Petrichor. Proceeds will be used to accelerate Leukocare’s US expansion activities, bolster the company’s expertise in the fields of viral vector and vaccine formulation, as well as the emerging field of mRNA formulation, and to expand the Company’s suite of bioinformatics capabilities.
Michael Scholl, Chief Executive Officer at Leukocare, says: “We are thrilled about the completion of this financing round. Our vast expertise in formulation development of biopharmaceuticals and viral vectors in combination with innovative bioinformatics puts us at the forefront of drug product development in these fields. This funding enables us to expedite our growth plans which encompass enhancing our bioinformatics capabilities as well as growing Leukocare´s market presence in the US. I would like to thank our new investor Petrichor and our existing shareholders for their continuous support and trust.”
Read more/Source: Private Equity Wire
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