Panoptes’ CEO Franz Obermayr stated: “We are delighted to welcome aws Gründerfonds as one of our investors. This additional financing reflects the importance of the medical need in ophthalmology and acknowledges the scientific and strategic approach Panoptes is taking. aws Gründerfonds CEO Ralf Kunzmann complemented: “We are happy to be on board and to support the great team in their next efforts to bring a game changing pharmaceutical on the market.”
This financing round follows a substantial investment by business angels, a first licensing deal with Laboratoires Leurquin Mediolanum SAS, as well as a € 1.5 million research grant (FFG, Austria), a € 1 million seed investment by aws Austria Wirtschaftsservice Ges.m.b.H.and awards earned by the company since its foundation in 2013.
About PP-001
PP-001 is a selective anti-inflammatory small molecule compound, which has demonstrated efficacy in a variety of preclinical models in ophthalmology. First and foremost PP-001 showed great efficacy in autoimmune uveitis and results were published in a peer reviewed journal (Diedrichs-Möhring et al., 2015)
Additionally, PP-001 showed also great efficacy in a model for adenoviral conjunctivitis.
About Panoptes
Panoptes is a privately held biotech company, located in Vienna, Austria and is focused on developing small molecule based therapies for the treatment of severe eye diseases with high unmet medical need.
About aws Gründerfonds
aws Gründerfonds is one of Austria’s most active venture capital funds. The fund has over € 68 million under management and invests in young, highly scalable businesses. In addition it facilitates value adding co-investments. So far 12 investments have been made. aws Gründerfonds is a subsidiary company of the Austrian Business Service (aws).
Cautionary statement regarding forward-looking statements
This press release contains certain forward-looking statements. Any forward-looking statement applies only on the date of this press release. By their nature, forward-looking statements are subject to a number of known and unknown risks and uncertainties that may or may not occur in the future and as a result of which the actual results and performance may differ substantially from the expected future results or performance expressed or implied in the forward looking statements. No warranties or representations are made as to the accuracy, achievement or reasonableness of such statements, estimates or projections, and Panoptes Pharma Ges.m.b.H. has no obligation to update any such information or to correct any inaccuracies herein or omission herefrom which may become apparent.
For further information please visit www.panoptes-pharma.com
Panoptes Pharma has received grants from LISA Seedfinancing administered by AWS on behalf of the Austrian Ministry of Economy, Family and Youth (BMWFJ) and by the Austrian Research Promotion Agency (FFG).
Panoptes: Ophthalmology company Panoptes Pharma successfully closed financing round
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