"TheraMAB" LLC. gets 2nd Investment Tranche
Moscow, Russia, March, 2012
"TheraMAB" has announced the closing of its 2nd venture investment tranche of RUB 157 million
"TheraMAB" LLC., a Russian biotech company developing therapeutic antibody targeting serious medical diseases with high unmet need, has announced the closing of its second venture investment tranche of RUB 157 million (USD 5.3 million) out of total committed investment of RUB 349 million.
The second financing round was led by "Bioprocess Capital Ventures", one of the leading venture capital firm in the Russian biotech industry.According to the investment program, "TheraMAB" LLC. has received an official approval from Russian regulatory authorities to conduct Ph-1 clinical trials (No. 385 dated September 30, 2011). First patient was enrolled November 28, 2011. Successful TAB08 development results were major decision point for the next investment round approval.The funding will enable "TheraMAB" LLC. to focus on Ph-1 clinical trials completion and conducting well designed Ph-2 clinical trials.
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).