Cellerix Raises €27 Million

Cellerix SL, a Tres Cantos, Spain-based developer of adult stem cell therapies, has raised €27 million in a first close on its Series C round. Ysios Capital Partners and Ventech co-led the tranche, and were joined by fellow return backers Roche Venture Fund and Novartis Venture Fund. The company previously raised a €27.2 million round in September 2007.

Cellerix, a product-focused biopharmaceutical company which develops innovative medicines based on cell therapy, today announced the successful first closing of its financing round, raising EUR27 million. Participants in this capital increase included current shareholders and a select group of new investors. Cellerix completed another financing round for EUR27.2 million in September 2007.

This round was led by the leading life science venture capital funds YSIOS Capital Partners, LSP (Life Science Partners) and Ventech. Grupo Genetrix also played a key role in the deal, and two of Cellerix’ current investors (Roche Venture Fund and Novartis Venture Fund) have significantly increased their stake. Furthermore, A&G and Cellerix’ management team have also subscribed to the capital increase. Florent Gros (representing Novartis) and a second representative from Genetrix, still to be designated will join Cellerix board of directors.

The new Cellerix shareholders include Bankinter S.A., Capital Riesgo Madrid and JV Risk Technologies S.L.

Joel Jean-Mairet, Cellerix’s Chairman has commented “The size of this round and the quality of the participants show investor’s confidence in the potential of Cellerix and its management team. Cellerix is becoming a world reference in the emerging cell therapy area as it moves towards the market launch of its first product backed by a very interesting pipeline”.

The funds raised by Cellerix in this financing round will be used for funding the completion of the clinical development of its lead product – Ontaril(R) – and preparation for its market launch in H2 2011. The proceeds of the round will also be used for funding the development additional products in the pipeline, including allogenic programs for the treatment of the autoimmune diseases.

Eduardo Bravo, Cellerix’ CEO added “This capital injection will allow us to continue with the development of all of our programs following the planned schedule, as well as enabling us to defend and increase Cellerix’ leading position in the field, helping us to become the first company to commercialise a cell therapy medicine in Europe”.

Cellerix has three products undergoing clinical trials: Ontaril(R) (Cx401) for the treatment of perianal fistulas, currently in Phase III, Cx501 for skin regeneration, currently in Phase II and Cx601 for the treatment of perianal fistulas, in phase II. Ontaril(R), Cx501 and Cx601 have been designated orphan status by the European Medicines Agency (EMEA). http://www.cellerix.com.