Press "Enter" to skip to content

German Biotechnology Firm Leukocare Gets Investment for US Expansion

By Willie Wise on June 28, 2021

German Biotechnology Firm Leukocare, which has operations in Milford, Connecticut, has announced the closing of a $17.5 million financing round from New York investment firm Petrichor Healthcare Capital Management. The investment consists of a convertible loan worth $15 million and a $2.5 million equity stake in Leukocare. In a press release, the company said that the funds will be used to further expand its operations in the U.S.

The investment is huge and will be instrumental in bolstering its bioinformatics unit and supporting mRNA formulation and viral vector and vaccine development efforts. Its operations in the country are located within its long-time partner Rentschler Biopharma SE’s headquarters.Biotechnology Firm Leukocare started its U.S. operations in January 2021, intending to strengthen its biostatics and artificial intelligence units to support its U.S.-based clients and create fresh opportunities and partnerships. The firm mentioned that its new on-the-ground presence will be focused on drug product formulation development, particularly for advanced therapy medicinal products. It could reach out to other related endeavors as well.

In the U.S the Biotechnology Firm Leukocare operates under the name Leukocare Inc, but it remains a wholly-owned subsidiary of the European parent. Leukocare and Rentschler Biopharma have been collaborating on various projects since 2017 to develop best-in-class formulation development services in every step of the biopharmaceutical value chain.

Simultaneous with the financing round, Leukocare declared the installation of Petrichor founder and managing partner Tadd Wessel to its supervisory board. Wessel brings over two decades of healthcare finance experience to the company. Before founding Petrichor, he was the managing director at New York-based investment firm OrbiMed Advisors, where he was credited for building the company’s healthcare special situations and structure finance unit.

Published in Biotechnology and News

Willie Wise

Backed by a strong educational background with a degree in Biotechnology, Greenville Technical College, Willie D. Wise is an asset to The Healthcare News and is rightfully placed as the Chief Editor, owing to his vast experience in technical writing, marketing, and strategic planning. To hone his job skills in journalism, Wise has also completed a degree course in journalism from the University of South Carolina-Columbia. He is highly skilled with the art of news presentation and is adept in an editorial role with excellent time management and leadership qualities at his disposal. He ensures the best delivery from his team of writers and ensures excellent performance by his team. Besides his current job as the editor-in-chief at The Healthcare News, he is a regular writer for the biotechnology category. Given his intense interest in the field, his core career centers around writing which he does with complete dexterity. As a writer, he ensures appropriate title selection besides developing authentic, market-relevant content ideal for business discretion and also to suit promotional and marketing strategies of TheHealthcareNews. His writing style not only remains informative but also is high on lucidity to entice reader focus for longer. Crude facts and statistical details are also presented simplistically to connect with readers' grasping capabilities.

More from BiotechnologyMore posts in Biotechnology »
More from NewsMore posts in News »

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *