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Wellington Partners leads €18.2m Series C for Genticel

24 Apr 2013

hospital_health_medical_170sqVenture capital firm Wellington Partners has led a €18.2m Series C round for Genticel by contributing €4m to help fund a phase II programme for the company’s lead product ProCervix.

Existing shareholders including EdRIP, IDInvest, InnoBio, IRDI and Amundi also backed the funding round.

Genticel’s vaccines target HPV infection with high-risk types, which could potentially lead to cervical cancer. The company noted that more than 300,000 million women aged 25 and over have an HPV infection with 50 per cent of those with a high risk type.

Wellington Partners general manager Rainer Strohmenger said, “The field of cervical cancer screening and treatment is an area in medicine that we know very well from our involvement in mtm laboratories AG, which we successfully sold to Roche 20 months ago.

“We are highly excited about Genticel’s lead project ProCervix, which has demonstrated in the phase I clinical trial that it can cure infections with high-risk HPV types 16 and 18 in 3 out of 4 treated patients, thus effectively preventing progression to high-grade cervical disease.

“There are more than 90 million women in the world infected with HPV types 16 and 18 who could benefit from this treatment, making this market a clear blockbuster opportunity.”

The firm’s Wellington Partners IV Life Science recently had a first closing and is intended to be further enlarged to a target size of €120m.

Wellington, which has offices in Munich, London and Zurich, currently has more than €800m under management.

Back in March Wellington hired medical technology entrepreneur Stuart Essig as a new venture partner for the life science investment team.

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