CORIMMUN receives seed funding from High-Tech Gründerfonds, Bayernkapital and BioM AG

Funding totaled an amount of 680.000 Euro for which High-Tech Gründerfonds, Bayern Kapital and BioM AG acquired company shares and additionally provided a subordinated convertible loan. CORIMMUN’s founding mem­bers PD Dr. Dorothea Siegel-Axel, PD Dr. Roland Jahns, Prof. Dr. Martin Lohse, Prof. Dr. Meinrad Gawaz participated in this round, as well as the company management PD Dr. Götz Münch and Prof. Dr. Martin Ungerer.

The company will now embark to develop high-profile new drugs to treat congestive heart failure and atherosclerosis, the most common causes of mortality in developed countries. The new medical developments aim to be especially efficient, and are characterized by reduced side effects com­pared to conventional drugs. Two innovative pro­ducts COR-1 and COR-2 are currently in pre­clinical development. COR-1 is a peptide drug candidate to prevent the auto-antibody-mediated propagation of heart failure. Auto-antibodies are an increasingly recognized phenomenon in any form of heart failure with a large and previously unmet medical need. COR-2 is a biological which prevents foam cell formation in atherosclerotic plaques with the potential to reverse plaque pro­gression.

All of CORIMMUN’s founders are very pleased about the successful financing of the company: "This confirms the quality of new compounds, and further shows how research work can be trans­lated into new applications in the context of the drug development process," said Corimmun´s CEO Götz Münch.

Marco Winzer, Investmentmanager at High-Tech Gründerfonds said: "The reason we invested in CORIMMUN was the high potential of drug can­didates as well as its experienced team coordi­nated by CEO Dr. Götz Münch. We are confident that this team will meet the demands of pharma­ceutical and biotech companies by providing promising drug development candidates."

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