Tuesday, 13 November 2018

Acticor Biotech raises €15.3M in Series B Financing

19 October 2018 | News

New financing will enable the company to launch shortly the first Phase II clinical trial of its lead candidate ACT017 inhibiting GPVI in acute ischemic stroke.

Acticor Biotech, a clinical stage biotechnology company involved in the acute phase of thrombotic diseases, including stroke and pulmonary embolism has announced that it has completed a €15.3 million Series B round of financing from European and Asian investors. This new funding will enable the company to finance its first phase II in acute ischemic stroke with its lead candidate ACT017.

The Series B was led by Newton BioCapital, a Belgium venture capital fund, followed by Mirae Capital, a Korean fund, CMS Medical Venture Investment Limited and A&B (HK), these last two funds are based in Hong Kong. Existing investors including CapDecisif Management also participated into this round.

This Series B might be completed by an additional financing of up to €5M in order to finance additional clinical developments with ACT017 in other indication.

Alain Parthoens, Managing Director of Newton Biocapital will now join the Board of Directors and commented: “We are excited to lead the current round of investors in Acticor Biotech and look forward to advancing ACT017 into its first phase II clinical development in acute ischemic stroke.”

Hyun Tae Kim, General Manager, Head of Bio Investment Team of Mirae Asset Capital, a subsidiary of Mirae Asset Financial Group, who will now join the Board of Director as observer, commented: “Our presence as investor in Europe is relatively new but we have been convinced by the potential of ACT017, the new target GPVI and the management team”.

Catherine Boule, Managing Partner at CapDecisif Management commented: “We have reinforced our investment into the company who is pursuing its clinical development at a fast pace and on time”.

Gilles Avenard, President of Acticor Biotech, commented: “We are delighted to have raised new equity from specialised healthcare investors who will enable us to grow and demonstrate the full potential of the company into thrombotic diseases”.

Agile Capital Markets and Cukierman Life Sciences acted as financial advisors for Acticor Biotech.

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