Germany-based biopharmaceutical company Rigontec has extended a series A round featuring Boehringer Ingelheim Venture Fund, the investment arm of pharmaceutical company Boehringer Ingelheim to almost €14.3m ($15.6m).
Venture capital firms Forbion Capital Partners and Sunstone Capital provided the €4.8m for the second tranche.
Rigontec raised €9.45m in October 2014 from backers including Boehringer Ingelheim, German government and corporate-backed VC fund High-Tech Gruenderfonds (HTGF), NRW.Bank and Wellington Partners.
Founded in January 2014, Rigontec has developed treatments that can destroy diseased cells and function as immunisation to prevent the disease from recurring. Its technology is based on research at Bonn University’s Institute for Clinical Chemistry and Clinical Pharmacology.
Rigonteec will use the series A funding to advance its lead drug candidate RGT100 into clinical proof-of-concept studies. RGT100 is aimed to combat several kinds of cancer, though Rigontec is also exploring the design of drug candidates against viral infections.
