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.

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