"TheraMAB" LLC. gets 1st Investment Tranche
Moscow, Russia, September, 2009
"TheraMAB" has announced the closing of its 1st venture investment tranche of RUB 192 million
"TheraMAB" LLC., a Russian biotech company developing therapeutic antibody targeting serious medical diseases with high unmet need, has announced the closing of its first venture investment tranche of RUB 192 million (USD 6 million) out of total committed investment of RUB 349 million.
The first financing round was led by "Bioprocess Capital Ventures", one of the leading venture capital firm in the Russian biotech industry. The funding will enable "TheraMAB" LLC. to develop first-in-class, original therapeutic antibody for diseases with high unmet medical need. The primary focus will be on inflammatory and hematology disorders. The company plans to complete preclinical program and initiate a new manufacturing program within the near future.
"TheraMAB" LLC. operates out of its own lab in Wuerzburg, Germany and office in Moscow, Russia. The management team consists of Sergey Chuvpilo, PhD (Managing Director), Dmitry Tyrsin, PhD (Chief Executive Officer) and Yury Fedotov (Director of Drug Development).
About "Bioprocess Capital Ventures"
BCV is a closed-end investment fund specializing in venture investments into high technologies with assets of RUB 3333 mln (USD 120 million). The Fund’s management is performed by the "Bioprocess Capital Partners LLP Managing Company". The Fund was formed on December, 20, 2007 on the basis of private-public partnerships, with the aim to invest the monetary assets in capital assets and shares of authorized capitals of Russian innovative companies. The Fund’s shareholders are: Open Joint Stock Company Russian Venture Company", The State Corporation "Bank for Development and Foreign Economic Affairs" (Vnesheconombank), the group of private investors consisting of the Fund’s venture specialists, including Franklin "Pitch" Johnson - founder, managing partner of "Asset Management Co." (venture fund), Harold (Harry) Edward Fitzgibbons – managing director of "Top Technology Ventures Limited" (TTV).