ETH Zurich spinout Spirochem has raised cash to accelerate its sales activities and boost productivity.
Spirochem, a Switzerland-based biotechnology spinout of Swiss Federal Institute of Technology in Zurich (ETH Zurich), raised an undisclosed sum today from unnamed UK and Switzerland-based backers.
Founded in 2011, Spirochem is commercialising a drug design platform that enables the development of treatments boasting improved physico-chemical and pharmaco-kinetic properties.
The technology also means the spinout’s clients, which include biotech and pharmaceutical firms, can optimise their drug candidates at an accelerated rate. It was developed by a research group led by Erick Carreira, a professor in the Organic Chemistry Laboratory at ETH Zurich.
The capital will go towards accelerated sales efforts and will help Spirochem boost internal productivity by purchasing state-of-the-art equipment. The funding round was closed as the spinout relocated to a bigger facility in Basel.
Thomas Fessard, CEO of Spirochem, said: “This is an exciting time for Spirochem as both the funds raised and relocation of the business provides the building blocks for us to significantly expand our operations as well as foster collaborations with existing and new customers and partners.
“We are delighted by the support our UK and Swiss investors have shown during this fundraise and their recognition of our strong progress and reputation as a partner of choice in the life sciences industry for outsourcing drug discovery research.
“As a result, we are making excellent progress and continue on our growth trajectory towards becoming a leading innovation and drug discovery partner to the pharmaceutical industry.”
