7TM Pharma raises $15m

Investee Company – 7TM Pharma (Denmark)

Investee Company Business Type – Drug design company

Type of Financing – Development

Equity Providers – Baker/Tisch Investments, Dansk Innovationsinvestering, Index Ventures, Lombard Odier & Cie and Novo A/S

Equity Leader (Individual) – Francesco De Rubertis, partner at Index Ventures

Debt Providers – N/A

Debt Type – N/A

Debt Leader (Individual) – N/A

Equity Amount – $15 million

Total Deal Value – $15 million

Other Advisors – N/A

Comments – 7TM Pharma, the drug design company, has secured a $15 million second round of financing from a consortium of investors. Index Ventures led the round and was joined by Baker/Tisch Investments, Dansk Innovationsinvestering, Lombard Odier & Cie and Novo A/S. This financing brings the total capital raised by the company during its first year to $21 million.

Founded in November 2000, 7TM Pharma focuses on 7TM receptors – a family of receptors that are among the most valuable drug targets for the pharmaceutical industry. 7TM receptors are membrane receptors whose stimulation or inhibition regulates very important molecular pathways involved in the development of many common diseases.

7TM Pharma will use the funds to boost the further development of the company’s drug discovery programme.

Mette Kirstine Agger, chief executive officer of 7TM Pharma, said: “This second round of financing will enable us to fully pursue the development of our technology platform as well as build the company as a 7TM receptor-focused drug discovery company. We see the support from the professional biotechnology focused investors as a key element in building 7TM Pharma”.

Francesco De Rubertis, partner at Index Ventures, commented: “7TM Pharma has created a nucleus of world-class competence in receptor biology, molecular pharmacology and pre-/early-clinical development, all squarely focused on 7TM receptors. Given the powerful hub of expertise, we are convinced of the company’s potential to become the pharmaceutical industry’s partner of choice for 7TM receptor-directed drug discovery and development”.