Immunethep succefully closes first round of investment

April 13, 2015


We are very pleased to announce that Immunethep has successfully closed its first round of funding from Portugal Ventures through its fund “Fundo de Capital de Risco Portugal Ventures Biocant”.

“Getting this first round of investment 7 months after we licensed the patent represents a very important milestone and assures that Immunethep is right on track to start planning for clinical trials” says Bruno Santos, CEO. “We are already in discussions with pharmaceutical companies that have shown interest to collaborate and further develop Immunethep’s technology” he adds.

Meanwhile, Pedro Madureira, Chief Scientific Officer of Immunethep says that this funding “will allow Immunethep to continue developing its technology and prepare for human clinical trials.” He also adds that “Closing this deal demonstrates the potential of this innovative approach to vaccine development which is the outcome of decades of research from the University of Porto. We are now one step closer to develop a vaccine that can save millions of lives.”

The Call For Entrepreneurship is the entry point to the Ignition Programme, an initiative spearheaded by Portugal Ventures and which is an integral part of the +e+i Programme (more entrepreneurship, more innovation). The objective of this programme is to bolster the Portuguese technology-based entrepreneurship ecosystem, thus contributing to the development of a more modern and competitive economy, open to the world, based on knowledge, innovation and highly qualified human capital, with a strong entrepreneurial spirit. Through this initiative, Portugal Ventures aims to invest around 20 million Euros, per year. Some of the venture capital funds managed by Portugal Ventures are co-financed by the European Union through FINOVA, managed by PME Investimentos, COMPETE and POR LISBOA.

About Immunethep
Immunethep is a biotechnology company focused on drug development for Immune System related pathologies. Immunethep is a Spin-off from the University of Porto that uses its proprietary technology to address unmet medical needs.