Topas Therapeutics raises EUR22m in Series B financing
Topas Therapeutics (Topas), a Hamburg, Germany-based private platform company leveraging the natural immune tolerance induction capabilities of the liver, has closed a EUR22 million (~USD26 million) Series B financing round.
New investors Vesalius BioCapital III and BioMedPartners co-led this transaction, which included participation from all of Topas’ existing investors. The funding will be used to advance the Company’s proprietary pipeline based on the Topas Particle Conjugates technology platform. This includes progressing lead program TPM203, currently in clinical development for the treatment of pemphigus vulgaris, and bringing TPM501, Topas’ candidate for the treatment of celiac disease, into the clinic.
Klaus Martin, PhD, Chief Executive Officer of Topas, says: “I am particularly gratified to begin my tenure at Topas with the completion of a successful financing round. We are grateful for the ongoing support of our existing investors and are proud to have had such high calibre new investors participate. They share our belief about the strong potential of Topas’ innovative technology platform, and I am very happy to welcome them as new members of the Supervisory Board.”
Marc Lohrmann, Managing Partner of Vesalius Biocapital III, says: “We are delighted to join Topas Therapeutics in its Series B round and look forward to contributing to the future success of the Company. We are excited about the opportunities of the unique and versatile Topas tolerisation platform and are highly committed to supporting the new CEO, Klaus, and the whole management team, to accelerate the development of the Company’s promising clinical programs.”
Michael Wacker, PhD, Partner of BioMedPartners, says: “The immune tolerance space is an area of untapped potential. We are impressed by the Topas Particle Conjugates technology and its potential to ameliorate and in some cases even cure a variety of immune-mediated diseases. Together with our fellow investors, we look forward to seeing the Company advance its lead program, TPM203, in the debilitating autoimmune disease, pemphigus vulgaris, as well as bring other programs forward into the clinic.”
Topas also today reported changes to the Company’s Supervisory Board, effective immediately:
In connection with the financing, Marc Lohrmann, Vesalius Biocapital III, and Michael Wacker, PhD, BioMedPartners both have joined the Supervisory Board.
Existing Board member, Erich F Greiner, MD, has become Chairman. Dr Greiner is CEO and President of Cedrus Therapeutics Inc and has served on the Topas Supervisory Board since June 2016.
Sebastian Kreuz, PhD has replaced Detlev Mennerich, PhD on the Board as representative of the Boehringer Ingelheim Venture Fund.