News Archiv
News Archiv
11.06.2013 15:46 Alter: 4 yrs

CAST-team ugichem raises € 2,25 million

12.06.2013 - CAST team ugichem has raised 2,25 million euros in funding for developing their antisense drug platform, the biotech company announced recently. A grant of 850.000 euros by Austria’s Research Promotion Agency (FFG), supplemented by 1,4 million euros in equity financing from existing investors, will go towards developing a pipeline of antisense drugs, which will focus on medical needs that had not been met yet.

CEO Dr. Holger Bock told that the investment came from Germany and Switzerland, yet he did not disclose any names or information on the size of the shares. He did say, though, that the investors expect to start getting their money back in 2017. For a list of ugichem’s already existing investors go here, and for some details about the company’s structure, go here.

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