Evotec spins out auto-immune disease company
German biotech firm Evotec (EVT: Xetra) has announced that it has set up a new spin-out company in the field of nanoparticle-based therapeutics for immunological disorders.
The new company, Topas Therapeutics GmbH, has support from a group of major investors, and is aimed at building a unique pipeline of clinical-stage development projects to treat autoimmune diseases.
A consortium consisting of Epidarex Capital, EMBL Ventures and Gimv (Euronext: GIMB) as well as Evotec is supporting the strategic Series A financing round of $15.7 million. Evotec will remain the largest shareholder after the financing round.
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