AplaGen GmbH acquires capital to ensure growth chances

Baesweiler, Germany-based AplaGen has closed a convertible bond with NRW BankVenture Fonds and the IVC Intelligent Venture Capital Fonds. The investors have enlarged their former engagement in the biotechnology company. With this funding, further growth chances of the company are ensured and it is strengthened on its way to out-license its first product, the firm stated.

AplaGen's product pipeline includes different peptides (small proteins). One of these substances can be used for the treatment of anemia caused by renal dysfunction or chemotherapy. Further peptides that can be used for the treatment of cancer or multiple sclerosis are under development. AplaGen does not want to bring its drugs to the market itself, but plans to make licensing agreements along the way.

"With this capital, we strengthen our funding. Especially in the ongoing out-licensing process of the EPO-mimetic substance for the treatment of anemia this is very important. Particularly, that now process has reached a very promising status. We see good opportunities for finding a partner in this very attractive market," says Franzpeter Bracht, managing director of AplaGen.