Dow Venture Capital, the corporate venturing unit of US-based Dow Chemical Company, has reinvested in Germany-based healthcare company Noxxon Pharma’s fourth round of funding. Noxxon raised €33m ($40.8m) in its series D round led by US and Germany-based venture capital firm NGN Capital as a new investor. NGN’s VC and German state-backed peers, TVM Capital, Sofinnova Partners, Edmond de Rothschild Investment Partners, Seventure Partners, VC Fonds Technologie Berlin, FCP Op Medical BioHealth-Trends, IBG Beteiligungsgesellschaft Sachsen-Anhalt and Dieckell Group, reinvested in Noxxon alongside Dow. In aggregate, Noxxon has raised €110m after closing a €37m series C round in May 2007 on top of €40m since its launch in 1997, according to news provider Dow Jones VentureWire. The latest investment will continue Noxxon’s drug trials in diabetes, cancer and blood conditions using its registered discovery platform, Spiegelmers. Frank Morich, chief executive of Noxxon since 2008, said: "This investment provides Noxxon with the funds to advance the clinical development of our three most advanced in-house programs without the need for additional external support." Peter Johann, a managing general partner at NGN Capital, will join Noxxon’s board.
- News & Analysis
- Global Corporate Venturing
- Global University Venturing
- Latest News
- Deal Data
- Community & Events
Dow reinvests for Noxxon’s €110m funding marathon
May 28, 2010 • James Mawson
LEADERSHIP SOCIETYInforming, connecting, and transforming the global corporate venture capital ecosystem.
The Global Corporate Venturing (GCV) Leadership Society’s mission is to help bridge the different strengths and ambitions of investors across industry sectors, geography, structure, and their returns.
Featured ContentFUNDING ROUND DATA Which corporates are backing which startups? Search our corporate deal database.
FUNDING ROUND DATA
Which corporates are backing which startups? Search our corporate deal database.NOMINATE Nominations for the GCV Powerlist 2024 are now open
Nominations for the GCV Powerlist 2024 are now openEventsWebinar: Startups and Strategics – What works and what doesn’tEventsGCV Institute: Landing the Value of Corporate VenturingTop News
GCV provides the global corporate venturing community and their ecosystem partners with the information, insights and access needed to drive impactful open innovation. Across our three services - News & Analysis, Community & Events, and the GCV Institute - we create a network-rich environment for global innovation and capital to meet and thrive. At the heart of our community sits the GCV Leadership Society, providing privileged access to all our services and resources.test reg