Curetis Raised Additional €14.5M to Diagnose Severe Infectious Diseases

27/11/2014 - 2 minutes

Curetis AG, a developer of next-level molecular diagnostic solutions, has closed a EUR 14.5 million extension of its Series B financing round, which was originally led by HBM Partners in April 2013.

Curetis is a young, dynamic and creative molecular diagnostics company. They are specialized in the diagnosis of severe infectious diseases in hospitalized patients. The company helps to combat infections effectively and detect antibiotic resistance at an early stage.

New investors Qiagen and LSP Health Economics Fund (LSP-HEF) participated in the round with a commitment of €7 million, joining several existing investors that together committed €7.5 million. The existing investors included Aeris Capital, BioMed Invest, CD Venture, Forbion Capital, HBM Partners, Life Science Partners, Roche Venture Fund, Curetis management, a trustee pool of Curetis employees, and private angel investors.

The European market introduction of both the Unyvero P50 Pneumonia and i60 Implant and Tissue Infection applications, allowing a faster and better diagnosis of life-threatening infectious diseases, has shown increasing traction. In addition, the company is in talks with several parties on granting future U.S. commercialization rights and further expanding the commercialization into Asia and other global markets.

The latest financing brings the total amount of equity raised by Curetis to more than €63.5 million.

“We are excited to see two new investors joining and further strengthening our syndicate of top-tier private equity funds,” said Dr. Oliver Schacht, CEO of Curetis. “This provides further evidence of our growth story being an attractive investment case. With the current cash on hand, we are now financed well into 2017. The funds will be used to continue our commercial roll-out in Europe, the FDA trial and to prepare our company for attractive future exit opportunities such as strategic partnerships, M&A or an IPO.”

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