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elbion AG Completes EUR 25 Million Series A Financing

11 Jan 2005 - Elbion AG (elbion), announced that it has secured a EUR 25 million first round of venture capital financing. The private placement was co-led by 3i (Munich, Germany), Burrill & Company (San Francisco, USA) and DVC Deutsche Venture Capital (Munich, Germany). Also participating in the round were AGF Private Equity (Paris, France), Quintiles PharmaBio Development (Durham, North Carolina, USA), BayTech Venture Capital (Munich, Germany) and Marubeni Corporation (Tokyo, Japan, and New York, USA).
 
New Members of the Supervisory Board - In addition to the founding members Stephen Evans-Freke, Hartmut Michel and Otto Stolberg-Stolberg, three individuals were appointed to elbion's Supervisory Board, including (Chair) Ann F. Hanham, Ph.D., Managing Director, Burrill & Company; Klaus Stoeckemann, Ph.D., MBA, Director, 3i and Thomas Taapken, Ph.D., Partner, DVC. The Management Board includes Bernd Kastler (CEO) and Thomas Kronbach, Ph.D. (CSO).
 
Founded in 2002 as a management buy-out from Degussa's pharmaceutical group, elbion discovers and develops small molecules against inflammatory and CNS diseases. The company has a pipeline of products in different phases of development.