Morphochem raises 15 million euros

Germany's Morphochem AG has raised 15 million euros ($12.8 million) inits fourth private placement round, including one of 40 million euros last year, bringing its total equity funding since its initial launch in 1998 to 77 million euros. Life Science Partners, an Amsterdam, Netherlands-based venture capital firm, led the current investment with 9 million euros.

The current funds will allow Morphochem to strengthen its technology platform and develop its product pipeline until 2003, according to a company statement. It adds that it has developed a number of key proprietary capabilities in the area of chemical genomics, such as its unique Multi Component Reactions chemistry, and functional screening tools through the incorporation of SMT in Princeton, USA, and an anti-infectives group which was formerly part of Switzerland's Roche.