Evotec Spins Off New Biopharm CompanyBy
Evotec AG, a Hamburg, Germany-based drug discovery and development company, has established a spin-off company in the field of nanoparticle-based therapeutics to treat immunological disorders. Epidarex Capital, EMBL Ventures and Gimv participated together with Evotec in the EUR 14 million ($15.75 million) Series A round of Topas Therapeutics GmbH. Evotec will remain the largest shareholder after the financing round.
The new company, Topas Therapeutics GmbH, aims to build a pipeline of clinical-stage development projects to treat autoimmune diseases. The proceeds of the Series A funding enable Topas to expand and accelerate its proprietary liver-based tolerance induction platform and to progress with its own product development efforts in multiple autoimmune and inflammatory indications, including multiple sclerosis into clinical proof-of-concept stage.