Nitec Pharma AG Closes CHF 32 Million (approx. US$ 26 million) Series B Financing Led by NGN Capital



    BASEL, Switzerland, March 29 /CNW/ - Nitec Pharma AG, a specialist
pharmaceutical company focused on the treatment of chronic inflammatory
diseases, today announced the closing of a CHF 32 million (approx.
US$ 26 million) Series B fundraising. This round was led by NGN Capital,
together with existing investors Atlas Venture and Global Life Science
Ventures.
    The proceeds will be used to develop further Nitec's lead product
Lodotra(TM) in Rheumatoid Arthritis (RA) and other indications and to develop
a second clinical product. Lodotra(TM) is a night time release formulation of
a corticosteroid that recently successfully completed Phase III trials in RA.
    "Now that we have successfully demonstrated the potential of Lodotra in
the clinic, these funds will help us bring to the market a product that meets
real patient needs while also enabling us to expand Nitec's product pipeline
and commercial potential," commented Jochen Mattis, co-founder and Head of
Marketing and Sales at Nitec Pharma, "We are particularly happy to have NGN
Capital lead this round."
    Dr. Peter Johann, Managing General Partner of NGN Capital, will join the
Board of Nitec Pharma AG. Dr. Johann stated, "We are very excited about this
late stage opportunity with Lodotra being close to launch for the treatment of
RA in Europe. Lodotra addresses a high unmet medical need in RA and has the
potential to be of similar benefit in other indications. With the broad range
of indications Lodotra can address, and with a second highly valuable compound
being added to the pipeline, we see significant additional future value to
being created by the company."

    About Nitec Pharma AG:

    Nitec Pharma is a specialist pharmaceutical company focused on the
development and commercialization of optimized medicines for the treatment of
chronic inflammatory diseases. Headquartered in Reinach, Switzerland, with a
wholly-owned subsidiary in Mannheim, Germany, the Company is developing
Lodotra(TM), a night time release formulation of prednisone, to address
morning symptoms such as morning stiffness in rheumatoid arthritis.
Lodotra(TM) has just successfully completed Phase III trials and will also be
developed to treat other indications such as Polymyalgia Rheumatica (PMR),
asthma and other inflammatory diseases. Nitec was originally founded in 2004
in a spin-out from Merck KGaA. Lodotra(TM) was originally developed at Merck
in cooperation with SkyePharma using SkyePharma's GEOCLOCK(TM) technology. The
company is financed by venture-capital firms Atlas Venture, GLSV and NGN
Capital. For further information about Nitec Pharma please visit
www.nitecpharma.com

    About NGN Capital

    NGN Capital is a global healthcare venture capital investment firm
Presently managing a $250 million Fund. NGN has investment capabilities across
a broad spectrum of healthcare segments, including drug products, medical
devices, and healthcare services, with an emphasis on later-stage
opportunities. NGN has offices in New York, NY, Heidelberg, Germany, and
Greenwich, CT. More information on NGN can be found at www.ngncapital.com

    About Atlas Venture

    Atlas Venture is a leading early-stage international venture capital firm
that invests in technology and life sciences businesses in the U.S., Europe
and Asia. Since inception in 1980, its partners have helped build over 300
companies in more than 16 different countries. In the past decade, 44
portfolio companies have been acquired and 47 are now public companies with an
aggregate market capitalization of over $15 billion. Atlas Venture manages
over $2.5 billion in capital through offices in Boston, London, Munich, and
Paris. For more information, visit www.atlasventure.com.

    About Global Life Science Ventures:

    GLSV is a leading, independent venture capital fund focusing exclusively
on the life sciences. With offices in Germany and Switzerland, GLSV is
dedicated to supporting early-stage companies originating from universities,
scientific institutions or industry, but also invests in selected later-stage
companies, including buy-outs. The group currently advises and manages funds
totaling more than EUR200 million. GLSV has now financed 32 innovative life
science companies in Europe and the US, twelve of which have completed an exit
through IPO, trade sale or M&A. Since 1996, GLSV has built up a broadly
diversified portfolio of companies in pharmaceuticals, diagnostics, medical
devices, and biotechnology. For more information about GLSV, go to
www.glsv-vc.com.

    Source: Nitec Pharma AG





For further information:

For further information: Jochen Mattis, Head of Marketing and Sales,
Nitec Pharma AG, t: +49-(0)621-438-50-211, e: jochen.mattis@nitecpharma.com;
Dr. Douglas Pretsell, Account Director, Munich Bureau Chief, Northbank
Communications, t : +49-(0)89-57-00-18-06, e:
d.pretsell@northbankcommunications.com; John R. Costantino, or Dr. Peter
Johann, NGN Capital, t: +1-212-972-0077, e: jcostantino@ngncapital.com,
pjohann@ngncapital.com

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NITEC PHARMA AG

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