Axxima raises E30.6m

German company Axxima Pharmaceuticals completed its latest round of funding late October raising E30.6 million. Axxima is a drug research and development company, pursuing a novel approach of generating a Signal Transduction Firewall against infections.

Fund raising was led by New York-based Bear Sterns Health Innoventures LLC and is the company’s first European investment. New investors in the company from this latest round include HBM BioVentures Ltd, Novartis Bioventures Ltd, both of Switzerland, Heidelberg Innovation Bioscience Venture II GmbH and WPD Venture Capital II GmbH & Co KG of Germany and the Hungarian Innovative Technologies Fund LLC.

Existing investors who supported this round of funding are: TVM Techno Venture Management; GLS Holding IX GmbH; Sued Venture Capital Investition GmbH & Co KG and Claus & Friedrich Dieckell all of Germany; Schroder Ventures International Biotechnology Trust plc of the UK and NIB Capital Private Equity NV of the Netherlands.

The total funds from the round will help the company reinforce its European presence, take drug candidates to commercialisation and establish US activity.