# Topas emerges from Evotec with $15.7m

2016-03-22

Source: https://globalventuring.com/university/topas-emerges-from-evotec-with-15-7m/
Publisher: Global Venturing (Global Corporate Venturing / GCV)

> Evotec has spun out Topas Therapeutics, which is working on treatments for conditions including MS, also contributing to a series A round.

Germany-based  biopharmaceutical startup Topas Therapeutics was spun out of drug  discovery company Evotec yesterday with €14m ($15.7m) of series A  financing.

Evotec was among the investors in the round, which also  featured venture capital firms Gimv, Epidarex Capital and EMBL  Ventures. Epidarex, which counts pharmaceutical firm Eli Lilly as a  backer, led the round while Gimv provided €4m of the funding.

Topas  is working on technology that will treat autoimmune diseases, allergies  and drug-induced immune reactions through the induction of  antigen-specific immune tolerance. It is licensed from University  Medical Center Hamburg-Eppendorf, the teaching hospital of Hamburg  University.

The capital will go towards expanding the company’s  platform and accelerating the development of treatments for conditions  including multiple sclerosis (MS) towards clinical testing. Phase 1  studies for MS are expected to begin next year.

Werner Lanthaler,  CEO of Evotec and interim chairman of the Topas supervisory board, said:  “Topas has the potential for ground-breaking products in the area of  tolerance induction and will bring this approach to clinical execution  with its great team.

“This company formation gives Evotec and its  shareholders an optimal risk-reward leverage in the field of  immunological disorder.”

Partners inn Evotec include  pharmaceutical producers MedImmune/AstraZeneca, Roche, Janssen  Pharmaceuticals, Boehringer Ingelheim, Bayer and Genentech.

*- This article first appeared on our sister site Global Corporate Venturing.*


Citation file: https://globalventuring.com/llms.txt