Press Release : Innovative Molecules raises EUR20 million Series A equity financing round

 
   - Proceeds dedicated to advance Herpes simplex treatment IM-250 to Phase 
II 
 
   - IM-250 demonstrates unprecedented impact on viral reservoir in 
preclinical studies 
 
   Munich, Germany, June 7, 2021 - Innovative Molecules GmbH, a German, 
Munich-based drug development company focused on developing 
next-generation treatments for Herpes simplex-induced diseases, today 
announced the closing of its EUR20 million Series A equity financing 
round led by LSP (Life Sciences Partners). 
 
   The company will use the funds to advance its preclinical product 
candidate, IM-250, from the current late preclinical stage to a Phase 2 
proof-of-concept study. 
 
   IM-250 is a potent inhibitor of Herpes Simplex Virus type 1 (HSV-1) and 
type 2 (HSV-2) replication. The compound targets the helicase-primase 
enzyme complex of the virus. Due to its demonstrated impact on the viral 
reservoir in preclinical studies, IM-250 may become a game-changer for 
the treatment of HSV-related diseases due to its potential to alter the 
natural course of the disease. 
 
   Gerald Kleymann, founder & Chief Executive Officer at Innovative 
Molecules, comments: ,,Within the last 25 years the treatment of Herpes 
simplex has not seen an innovation that managed to reach the market. Our 
ambition is to change this. With IM-250 we will alter the way Herpes is 
treated. Our goal is to reduce or even eradicate the reservoir of the 
virus in order to achieve long-lasting effects, less recurrences and 
real benefits for patients." 
 
   Joachim Rothe, Partner at LSP, complements: ,,I am pleased with LSP 
leading the investment syndicate of Innovative Molecules. There is an 
urgent medical need in Herpes-induced diseases. Current treatments have 
minimal efficacy and can't change the persistence of the infection. 
Moreover, resistance to todays' standard treatments occur quite often 
and can lead to life-threatening complications or even to the death of 
patients." 
 
   Thomas Hoffmann, co-founder & financial advisor to Innovative Molecules, 
states: ,,To have gained LSP as one of the leading European life 
sciences funds as the lead investor for this Series A financing round is 
truly a quality stamp for our project. We are looking forward to working 
together with LSP on this exciting drug development opportunity." 
 
   A Baker McKenzie team of lawyers led by partner Berthold Hummel 
represented LSP as investor counsel and ZSP Zwicker Schnappauf 
Patentanwälte served as IP counsel. Frankus Rechtsanwälte 
(Torsten Bergau) represented the founders and the company. 
 
   ### 
 
 
 
 
 
   About Herpes simplex infection and disease 
 
   Herpes simplex disease is a contagious, lifelong infection with high 
incidence and prevalence data, a quiet pandemic with a huge health 
burden and a risk factor for acquiring HIV & HPV and Alzheimer's 
disease. At least 50 % of the population is infected with Herpes simplex 
virus type 1 (HSV-1), mostly herpes labialis, whereas approx. 25% of the 
population is infected with Herpes simplex virus type 2 (HSV-2), mostly 
genital herpes, a sexually transmitted infection/disease. Latency is 
established for life by deposit of episomal HSV DNA in sensory neurons. 
Upon diverse stimuli HSV reactivates from the latent reservoir causing 
recurrent herpes disease. Up to 30% of patients suffer from frequent 
recurrences which could be painful, socially isolating and in 
immuno-compromised patients even life-threatening. There is no treatment 
currently available that reduces or eradicates the virus reservoir as 
such. 
 
   About Innovative Molecules 
 
   Innovative Molecules GmbH is a drug development company aiming for 
setting a new treatment standard for Herpes simplex induced diseases. 
The company is focusing on the development of IM-250, a potent, second 
generation helicase-primase inhibitor of HSV-1 and HSV-2. Due to its 
potency, excellent neuronal tissue exposure and long half-life, IM-250 
has the potential to change the way Herpes simplex induced diseases are 
treated. Preclinical data indicates that IM-250 does not only block 
active viral replication but might be able to reduce or even eradicate 
the viral reservoir, ultimately leading to less recurrences or even to a 
cure from this latent, life-long infection. 
 
   For more information: www.innovativemolecules.com 
 
   About LSP 
 
   LSP is one of the largest European investment firms providing financing 
for life sciences and health care companies. LSP's management has raised 
over EUR2 billion ($2.3 billion) and developed more than 120 companies 
since it started to invest in 1988. With offices in Amsterdam, Munich 
and Boston, LSP currently has the possibility to invest from three funds, 
each having a distinctive investment scope and a dedicated team: LSP 6 
invests in private early- to late-stage drug development and medical 
technology companies; LSP HEF 2 focuses on private late-stage medical 
technology companies with a health and economic benefit; and LSP Public 
targets public healthcare companies. Among LSP's signature deals are 
Argenx, Crucell, KuDOS, Movetis, Neuravi, Okairos, Prosensa, Qiagen and 
Zealand Pharma. 
 
   For more information: www.lspvc.com 
 
   Media Inquiries 
 
   akampion 
 
   Dr. Ludger Wess / Ines-Regina Buth 
 
   Managing Partners 
 
   [e-mail] 
 
   Tel. [phone] / 
 
   Tel. [phone] 
 
 
 
 

(END) Dow Jones Newswires

June 07, 2021 04:00 ET (08:00 GMT)