Expansion financing for ESBATech AG

Investee Company – ESBATech AG

Investee Company Business Type – Biotechnology company

Type of Financing – Expansion

Equity Providers – Lombard Odier & Cie, Novartis Venture Fund, HBM BioVentures, BSI New Biomedical Frontiers and Peter Ohnemus.

Equity Leader (Individual) – N/A

Debt Providers – N/A

Debt Type – N/A

Debt Leader (Individual) – N/A

Equity Amount – N/A

Total Deal Value – N/A

Other Advisors – The e-Firm

Comments – ESBATech AG, a company which specialises in functional screenings for the drug discovery process, has closed the first phase of its second round of financing. The funding was provided by a consortium of investors led by Lombard Odier & Cie, and joined by Novartis Venture fund, while new investors HBM BioVentures, BSI New Biomedical Frontiers, and Peter Ohnemus of The e-Firm also participated.

ESBATech AG, a company spun-out of the University of Zurich in September 1998, focuses on pre-clinical research comprising the identification of disease relevant genes and functional screenings for lead compounds in the drug discovery process.

The latest round of financing will help to finance the expansion of the business, in particular its research and development capabilities, and to focus on the need of strategic partners. The company is also to move to new premises, which will permit an expansion in headcount and the installation of new technical instrumentation for the re-enforcement of on-going projects, and establishment of future projects to broaden the product pipeline.

Peter Ohnemus, chairman and CEO of advisory firm The e-Firm who participated in the round and has joined the board of ESBATech AG, said: “We are extremely impressed by the results achieved by ESBATech at this stage and are convinced that the management can lead the company into its next phase of global client growth. We look forward supporting to build this very exiting company.”

Dr Dominik Escher, CEO of ESBATech AG, commented: “This is an extremely positive signal and sign of commitment, especially in times of adverse market conditions. We have a lot of projects in the pipeline and are very excited to now have the means to pursue them.”