BERLIN and SEATTLE, April 3 /PRNewswire/ -- Epigenomics AG, a biotech
company developing DNA methylation based products for early detection and
molecular classification of cancer and other diseases, announced today the
closing of a EUR 21 (US$ 22.5) million series C round of financing. New
investor The Wellcome Trust Limited (London, UK), and all existing VC
investors participated in the round. Existing investors include 3i Group and
Abingworth, (both London, UK), Deutsche Venture Capital DVC (Munich, Germany),
MPM Capital (Boston, USA), and tbg (Bonn, Germany). This third round brings
the total capital raised by Epigenomics since its inception in 1998 to over
EUR 56M (US$ 60M).
The proceeds of the round will be used to expand Epigenomics' leadership
in DNA methylation. Epigenomics will use the funds for the further development
of its diagnostic products in cancer as well as its pharmacodiagnostic and
research products. In addition, Epigenomics will also apply these funds to
pursue different disease indications and for general corporate purposes.
"What really interested us in Epigenomics was its leadership in a
revolutionizing field and the recent validation of its approach in cancer by
entering into a strategic alliance with Roche," stated Julie Eskay-Eagle,
Manager, Direct Investments, from The Wellcome Trust Ltd.
Oliver Schacht, CFO of Epigenomics, added: "To close this substantial
financing round in the current climate is a clear endorsement from all our
investors. With The Wellcome Trust, we are adding a strategic partner to
broaden further the syndicate of investors."
Epigenomics is also adding two new members to its supervisory board. Klaus
Stockemann (PhD, MBA, Director Healthcare 3i Group) as well as Bruce Carter
(PhD, President and CEO Zymogenetics) will join Jorg Neermann (DVC), Prof.
Rolf Krebs (Boehringer Ingelheim), Michael Steinmetz (MPM) and John Berriman
(Abingworth).
Epigenomics is committed to significantly improving the treatment of
cancer and other complex diseases by developing novel diagnostic and
pharmacodiagnostic products based on DNA methylation. By detecting and
interpreting DNA methylation patterns, the "on" and "off" signs for genes,
Epigenomics can create a digitized readout (Digital Phenotype(r)) for each
cell. The comparison of a patient's cells against healthy and sick reference
samples enables an exact diagnosis of disease at a very early stage and
provides physicians with essential information to help guide an appropriate
therapy. The combination of diagnosis and therapy, based on this information
and robust proprietary technology, is "personalizing" medicine. Epigenomics is
supported by a network of renowned academic researchers and clinicians, with
expertise in the fields of cancer and DNA methylation. The company has its
headquarters in Berlin, Germany, and a wholly owned subsidiary in Seattle,
USA. For more information, please visit our website http://www.epigenomics.com.
SOURCE Epigenomics AG
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Related links:
http://www.epigenomics.com
CONTACT:
Oliver Schacht, +49-30-24345-0, or Florence
Danek, +49-30-24345-305, both of Epigenomics; Mike Sinclair of
Burns McClellan, +44-20-7534-1521, for Epigenomics
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