Following the sale of their portfolio company CorImmun GmbH to Janssen-Cilag for an undisclosed upfront payment and a contingent future clinical milestone payment, Corimmun’s investors led by MIG have realized an important return on investment.

CorImmun’s lead compound, COR-1, is a small cyclic peptide currently in early clinical development for the treatment of heart failure. COR-1 has been shown in preclinical studies to improve heart function by decreasing autoimmune, beta 1 receptor-simulating antibody effects.

Corimmun, was founded in 2006. It succeeded in combining two outstanding cardiovascular “GO-Bio” projects from the Universities of Würzburg and Tübingen in one business start-up. GO-Bio is a public grant programme of the Federal Ministry of Education and Research (BMBF), which intends to foster entrepreneurship in the life sciences sector. Corimmun thereby qualified for seed funding from High-Tech Gründerfonds, Bayernkapital and Bio-M.

With three financing rounds (2006: Seed, 2008: Series A, 2010: Series B), Corimmun was able to obtain total equity of approx. EUR 13.5 million. MIG was the lead investor in rounds A and B. The financing rounds were supported by the following Co-investors: KfW (Bankengruppe), High-Tech Gruenderfonds, Bayern Kapital GmbH and Bio-M AG, Munich Biotech Development.

Corimmun also received public funding as a “lighthouse project” in the “m⁴ Munich Leading-Edge Cluster” Programme, which is another BMBF public grant programme.

About MIG
MIG Verwaltungs AG is the manager of MIG Funds, a number of public venture capital funds. MIG is one of the leading venture investors in German-speaking countries. The investment portfolio of the MIG funds currently comprises 25 companies from the life science (drug development, diagnostics, and medical technology), cleantech (energy and resource efficiency) and high-tech (IT, sensor technology, telecommunications) industries.  www.mig.ag

About BayernKapital
Bayern Kapital GmbH is a public Bavarian venture capital company and was founded as part of the “Bavarian Future Initiative” as a wholly-owned subsidiary of the LfA Foerderbank Bayern (Bavaria’s development bank) at the end of 1995. To date, Bayern Kapital has invested 175 million EUR  in more than 210 innovative high-tech companies. Beyond the seed phase, Bayern Kapital acts a co-investor with private venture funds. www.bayernkapital.de

About KfW
The KfW Bankengruppe generally finances and promotes young entrepreneurs, small and medium sized companies (SMEs) as well as investments to accelerate (economic) growths in revenue and personel.
Via the ERP-Startfonds, which is funded and managed by itself, the KfW becomes a stakeholder especially in innovative, technology-based firms, who are likely to grow rapidly. The Funds can finance working capital for Research and Development activities, but also for the enrolment of new products, techniques or services.
ERP-Startfonds always acts as a co-investor, who accompanies a private lead investor and adopts its economic conditions and contract design. ERP-Startfonds was started in 2004 and and has now 720 Mio. Euro under management.
www.kfw.de

About BioM
BioM Munich Biotech Development AG is a consultancy and shareholding enterprise in Martinsried, at the hub of the Munich biotech region. BioM AG supports young and promising biotechnology companies with a seed financing programme aimed specifically at enterprises in the founding or start-up phase and with a focus on state-of-the-art drug development technologies. All investments are made from BioM AG equity and BioM AG currently holds shares in 11 biotech companies. https://www.bio-m.org/

About High-Tech Gruenderfonds
High-Tech Gruenderfonds invests in young, high potential high-tech start-ups. The seed financing provided is designed to enable start-ups to take an idea through prototyping and to market launch. Typically, High-Tech Gruenderfonds invests EUR 500,000 in the seed stage, with the potential for up to a total of EUR 2 million per portfolio company in follow-on financing. Investors in this public/private partnership include the Federal Ministry of Economics and Technology, the KfW Banking Group, as well as thirteen industrial groups of ALTANA, BASF, B. Braun, Robert Bosch, CEWE Color, Daimler, Deutsche Post DHL, Deutsche Telekom, Evonik, Qiagen, RWE Innogy, Tengelmann and Carl Zeiss. High-Tech Gruenderfonds has about EUR 563 million under management in two funds (EUR 272 million EUR HTGF I, EUR 291 million HTGF II). www.high-tech-gruenderfonds.de

Press Contact:
MIG Verwaltungs AG
Ismaninger Straße 102
81675 München
info@mig.ag
www.mig.ag/

Bayern Kapital GmbH
Rosi Keimerl
Ländgasse 135 a
84028 Landshut
phone: +49 871 92325-0
fax: +49 871 92325-55
info@bayernkapital.de
www.bayernkapital.de

KfW Bankengruppe
Palmengartenstr. 5-9
60325 Frankfurt
www.kfw.de

BioM AG Munich Biotech Development
Dr. Bernhard Wimmer MBA
Investment Director
Am Klopferspitz 19a
D-82 152 Martinsried / Germany
phone: +49 (0)89 / 89 96 79 0

High-Tech Gründerfonds Management GmbH
Marco Winzer
Ludwig-Erhard-Allee 2
53175 Bonn
phone: + 49 228 / 82 30 01-00
fax: + 49 228 / 82 30 00-50
m.winzer@htgf.de
www.high-tech-gruenderfonds.de