APEIRON Biologics AG has successfully completed a financing round totaling EUR 17.5 million, thus securing the further development of its drug candidate APN01 for the treatment of seriously ill COVID-19 patients and the further development of immuno-oncology projects. As part of a rights issue with a private placement, the company was able to raise EUR 11.9 million from existing and new private and institutional investors, including the Vienna Insurance Group (VIG), which with an investment of approx. EUR 7 million receives a participation of 3.26% in APEIRON Biologics. In addition, the Austrian Research Agency (FFG), the Vienna Business Agency (WAW), the Austria Economic Service Company (AWS) and Erste Bank have promised public funding and guarantees totaling EUR 5.6 million.
"We would like to thank our existing and new investors as well as the public institutions and banks who support our development activities for urgently needed treatment options," said Peter Llewellyn-Davies, CEO of APEIRON Biologics AG. "It is particularly gratifying that the financing round was oversubscribed and that we were also able to attract renowned and future-oriented investors as new shareholders."
APN01 (rhACE2) is one of the most advanced drug candidates for the treatment of COVID-19 and one of the few therapy approaches specifically directed against the corona virus. According to experts, if the current phase II study is positive, accelerated market approval could probably take place.
The company plans to expand the Phase II trial, which has been launched in Austria, Germany, Denmark and the UK, to the USA and Russia. The double-blind, randomized, placebocontrolled study aims to treat 200 patients with severe COVID-19 disease.
About APEIRON Biologics AG
APEIRON Biologics AG, is a European private biotechnology company based in Vienna that specializes in the discovery, development and commercialization of novel immunotherapies for cancer and respiratory diseases. The approved product Qarziba® and APEIRON’s projects and technologies are based on a strong patent portfolio and partnerships with leading pharmaceutical companies and academic institutions.
For further information, please contact:
APEIRON Biologics AG
Peter Llewellyn-Davies, CEO
Media and Investor Relations
MC Services AG
T +49 89 210 228 0
This press release contains certain forward-looking statements that involve risks and uncertainties. These statements reflect APEIRON's opinion at the time of this press release. Such forward-looking statements are neither promises nor guarantees, but depend on many risks and uncertainties, many of which are beyond the control of APEIRON's management. This could cause actual results to differ materially from those projected in these forward-looking statements. We expressly assume no obligation to publicly update or revise any forward-looking statements regarding changed expectations of the parties or regarding new events, conditions or circumstances on which these statements are based.