Leon Nanodrugs — “Leon” for short — can with Lead investor Evotec SE and the BayBG Bavarian investment company Successfully completed Series B financing round. At the same time, existing shareholders TVM Life Science Innovation I LP, CD-Venture, Albany Private Equity Holdings Pty Ltd., Eckenstein-Geigy Foundation, and LOF Leon Partnership increased their investment. With the additional capital, the Munich-based startup, founded in 2011, plans to further develop and industrialize its production technology. It also plans to expand its patent portfolio and implement additional innovations. The amount of the investment was not communicated.
The Leon The developed and patented MicroJetReactor (MJR) platform technology enables the production of nanoparticles from a wide variety of drug classes. This high-output production technology provides sufficiently small particle sizes and precision for many pharmaceuticals, while maintaining high efficacy. The tiny particles exhibit advantageous solubility, thus addressing the problem of insufficient water solubility of numerous pharmaceuticals.
“The current financing round enables us to further develop our technology and enter the clinical phase.”
Leon is conducting development work in collaboration with the developing pharmaceutical company. The Munich-based startup is currently working on four development projects with other pharmaceutical companies. The biotechnology group Evotec SE will be the development partner for numerous projects in the early formulation phase of drug development.
"We are very pleased to have gained BayBG, another renowned venture capital investor for our groundbreaking technology, alongside our strategic investor Evotec. The current financing round enables us to further develop our technology and move it into the clinical phase,"
so Andrea Cusack, Managing Director of Leon Nanodrugs.
Highly innovative production technology
Peter Graf, Investment Manager of BayBG:
"Leon-Nanodrugs has a highly innovative production technology that enables the reformulation of existing active ingredients based on nanoparticles. The resulting drugs exhibit significantly improved properties compared to the original drugs, to the benefit of patients, physicians, and health insurance companies. We are pleased and proud to be part of Leon-Nanodrugs' Series B financing round as a partner in a very strong consortium."
