Pantec Biosolutions AG, a privately-owned company developing innovative technologies for transdermal drug delivery, today announced the closing of a CHF 20 million investment achieved by two financing rounds. The StemCell Holding AG, an Austrian investment company in the life sciences sector, acted as lead investor. No further terms were disclosed.
“Pantec's unique technology platform, combined with a strong know-how in laser technology and drug delivery, makes the Company a unique and exciting enterprise with a vast potential for success. Our decision to invest was also driven by excellent results in the due diligence process and Pantec Biosolutions' convincing management team”
The investment strengthens Pantec's financial position and paves the way for the next strategic steps in Pantec´s development. The money raised in this financing round will be used to drive the development of P.L.E.A.S.E.® IVF, i.e. the Company's two proprietary transdermal hormone patch candidates in combination with P.L.E.A.S.E. (Painless Laser Epidermal System) for In-Vitro Fertilisation (IVF) therapy, up to market approval and to further fund the market launch of their new P.L.E.A.S.E.® Professional product line for dermatology applications.
Dr. Christof Boehler, CEO of Pantec Biosolutions, commented: "We are delighted that our new investor StemCell Holding has shown such a solid commitment to Pantec and our visions for the future of needle-free IVF treatment. This financing will allow us to move ahead with the clinical development of the P.L.E.A.S.E. ® IVF platform and visualise our goal of reaching market approval in Europe."
StemCell Holding's CEO remarked: "Pantec's unique technology platform, combined with a strong know-how in laser technology and drug delivery, makes the Company a unique and exciting enterprise with a vast potential for success. Our decision to invest was also driven by excellent results in the due diligence process and Pantec Biosolutions' convincing management team".
Following this successful financing round, Pantec will also add two new members to the Company's Board of Directors: Dr. Manfred Asamer, CEO of Asamer Holding AG and Dr. Werner Lanthaler, the current CEO of Evotec and the ex-CFO of Intercell.
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