Leukocare announces $ 17.5 million funding round to further expand its business and bioinformatics activities in the United States

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MARTINSRIED, Germany and MUNICH, Germany and MILFORD, Mass., June 23, 2021 (GLOBE NEWSWIRE) – Leukocare SA, a biotechnology company specializing in the development of biopharmaceutical formulations, today announced the closing of a $ 17.5 million (€ 14.6 million) financing led by Petrichor Healthcare Capital Management, with the participation of existing shareholders of Leukocare. The financing consists of a convertible loan of $ 15 million and an equity investment of $ 2.5 million from Petrichor. The proceeds will be used to accelerate Leukocare’s expansion activities in the United States, strengthen the Company’s cutting-edge expertise in the areas of viral vector and vaccine formulation, as well as the emerging area of ​​formulation of MRNA, and to extend the Company’s range of bioinformatics capabilities.

Michael Scholl, CEO of Leukocare, said: “We are delighted with the completion of this funding round. Our extensive expertise in the development of biopharmaceutical formulations and viral vectors in combination with innovative bioinformatics places us at the forefront of pharmaceutical product development in these areas. This funding allows us to accelerate our growth plans which include improving our bioinformatics capabilities as well as Leukocare’s growing presence in the US market. I would like to thank our new investor Petrichor and our existing shareholders for their continued support and confidence.

Following the financing, Tadd Wessel, founder and managing partner of Petrichor, will join the supervisory board of Leukocare. Mr. Wessel brings over 20 years of healthcare finance experience and, prior to founding Petrichor, served as Managing Director at OrbiMed Advisors, where he led the development of special situations activities and structured finance.

Tadd Wessel added: “Leukocare’s expertise in developing formulations for complex and innovative products, particularly those in increasingly important areas such as viral vectors and mRNA therapies, combined with their expertise in-house in artificial intelligence and biostatistics, makes it an innovator in this growing biopharmaceutical sub-sector. We believe our partnership will help Leukocare accelerate its next stage of growth, both here in the US and beyond. “

Georg Dönges, CFO of Leukocare, said: “This unique form of financing and the partnership qualities that Petrichor offers are perfectly suited to support Leukocare in our current stage of development and will allow us to rapidly pursue our multi-faceted growth initiatives. .

In January 2021, Leukocare started its activities in the United States with the opening of development laboratories and offices in Milford, Massachusetts. This strategic step has given Leukocare the opportunity to work even more closely with US-based customers and partners in the development of pharmaceutical formulations for biopharmaceuticals and advanced therapy drugs (ATMP).

The company’s in-house bioinformatics team enables the development of superior formulations in less time, leveraging best-in-class biostatistics with deep learning algorithms. Together these help cover a larger design space, offering tailor-made solutions from a wider range of options. Further investments in machine learning and database expansion will strengthen Leukocare’s approach to replacing high throughput screening with in silico experiments, ultimately amplifying the scientist’s area of ​​knowledge in formulation.

About Leukocare AG
Leukocare AG, located in Martinsried / Munich, Germany and Milford, MA, USA, is a biotechnology company specializing in the development of biopharmaceutical formulations. Operating at the interface of drug substance and drug product development, Leukocare combines a solid knowledge of formulation development with bioinformatics and artificial intelligence.

The formulation development approach consists of two elements: a library of up to 100 well established and different employed regulatory excipients and a rational development approach that uses statistical software and self-learning algorithms as well as a state-of-the-art design of experience (DoE). matrices. Using the elements of artificial intelligence, Leukocare is able to specifically combine excipients leading to stabilizing formulations adapted to the needs of the medicinal product.

Leukocare’s superior and innovative pharmaceutical formulations can be applied to a wide range of applications: biologics and biosimilars, vaccines and viral vectors, and biofunctionalized devices.

www.leukocare.com

About Petrichor Healthcare Capital Management
Petrichor Healthcare Capital Management partners with world-class healthcare managers and companies to provide personalized investment structures and support. The Petrichor team of investment professionals come from reputable financial institutions, including OrbiMed Advisors and Fortress Investment Group. Collectively, the team has made more than 80 investments representing more than $ 5 billion in invested capital and held more than 30 seats on the board of directors. Petrichor maintains in-house knowledge of healthcare products and services, including scientific, technical and business expertise. This healthcare expertise, coupled with extensive investment experience across all industries, geographies and capital structures, offers a unique combination to help build successful businesses.

For more information, please visit www.petrichorcap.com.

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