The Munich-based biotech company has raised an overall amount of €21.7 million so far in its series A financing round and will accelerate projects for the therapy of autoimmune diseases with the additional €4 million from the second closing.

Munich—Global law firm Dentons has advised biotech company Immunic AG on the second closing of its series A financing round in which a fund of IBG Beteiligungsgesellschaft Sachsen-Anhalt GmbH has invested €4 million in Immunic AG. The investment shall be used for the acceleration of the project IMU-366 “Development of new RORyt inhibitors for the therapy of autoimmune diseases up to the first trial in subjects”. The funded project will be partly carried out by Immunic Research GmbH, a wholly-owned subsidiary of Immunic AG based in Halle (Saale).

Immunic, headquartered in the biotech-hub of Planegg-Martinsried near Munich, was founded in April 2016 and develops promising drugs up to the first proof of their clinical efficacy. The company focuses, in particular, on immunomodulatory drugs to be taken as tablets. Following IBG's investment, Immunic’s Executive Board has been expanded to include Dr. Daniel Vitt (CEO) and Dr. Hella Kohlhof (CSO) in addition to the existing members Dr.Manfred Groeppel and Dr. Andreas Muehler. Other investors that participated in Immunic’s first closing in September 2016 - which raised €17.5 million and was one of the largest Series-A biotech venture capital financings in Germany - include LSP, LCP, HTGF, Bayern Kapital and other private investors.

IBG Beteiligungsgesellschaft Sachsen-Anhalt, a central funding vehicle of the Federal State of Saxony-Anhalt, seeks to create and strengthen sustainably competitive economic structures with its investments. The IBG funds are managed by bmp Beteiligungsmanagement AG, Berlin and Magdeburg. IBG made the investment on the condition that the financial resources provided are used for a project in Saxony-Anhalt.

Dr. Daniel Vitt, Immunic’s Chief Executive Officer, says: "We are very excited that IBG is joining the group of renowned investors and adding another €4 million of equity financing to Immunic’s series A. This step is very important to speed up the development of our two key assets IMU-838 in the field of IBD and IMU-366 for treating autoimmune diseases with high unmet medical need."

A Dentons team led by Munich partner Thomas Strassner advised Immunic on this transaction. Thomas has advised Immunic since its foundation, including the first closing of the series A financing round.

Advisors for Immunic AG:

Dentons (Munich): Thomas Strassner (Partner, lead), Michael Rebholz (Associate, both Corporate/M&A)