Virometix closes extension financing round

04.09.2017 11:45

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Virometix has raised CHF 1.2 million from new shareholders in an extension to its recent Series A financing round. The additional funds will be used to further speed up development of its vaccine candidates for RSV and cancer immunotherapy. Furthermore, the company announced the appointment of Harry Welten, as new independent member of its Board of Directors.

Virometix is a biotech startup developing a new generation of vaccines and immunotherapeutic drugs for the prevention and treatment of infectious and chronic human diseases. In May this year, the company raised CHF5 million in series A financing round and has now received additional 1.2 million to accelerate the ongoing development of their candidate drug.

In addition to the announcement of the new investment, the company announced the appointment of Harry Welten to their Board of Directors. Harry Welten brings in more than 20 years of international senior executive experience, 17 of which as Chief Financial Officer in biotech. He is CFO of Kuros AG (formerly Cytos) and a member of the Board of Kanyos, BiognoSYS, ProteoMediX and Horizon Pharma. Furthermore, he is a member of the foundation council of HBM Foundation.

Welten will replace Professor John Robinson, who stepped down from the Board of Directors earlier this year to now support the company as a member of the Scientific Advisory Board. With the appointment of Welten, Virometix takes a further step in to enhance its professional expertise in the Board of Directors.

“Joining Virometix’ Board of Directors is a true honor for me. I am looking forward to helping create value for people, shareholders and employees”, said Welten.

“We are delighted to have attracted additional funding from experienced investors and cordially welcome Harry Welten to our Board of Directors, said Arin Ghasparian, CEO of Virometix “With his background in finance he will be an excellent fit for us as we progress with our development.”

Pierre Morgon, Chairman of Virometix, added “With the successful completion of our financing rounds, Virometix is on course to deliver its objectives and to advance several vaccine and cancer immunotherapy candidates. Harry will bring pivotal experience and skills in terms of financial management and deal making at an important time of the life of the company”.

(Press release)

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