$6M private placing by Bayer spin-out Actimis

ComVest Ventures, an affiliate of Commonwealth Actimis Pharmaceuticals, a startup company created as a spin-out from Bayer Healthcare AG of Germany and dedicated to developing and commercializing small-molecule therapeutics for respiratory and inflammatory diseases, has announced a $6.0 million private placement of its series A stock. The financing was led by Sanderling Ventures of San Mateo, California. Additional investors include Mitsui & Co Venture Partners of New York.

Bayer has assigned the rights to five preclinical research programs to Actimis, including two advanced programs with highly-optimized lead candidates and three additional research-stage projects. The majority of the targets represent first-in-class molecules and have broad application across respiratory diseases including asthma and chronic obstructive pulmonary disease, as well as inflammatory disorders including atopic dermatitis, rheumatoid arthritis, psoriasis and others. Financial terms of the transaction were not disclosed.