Mummert & Company exclusively advises Scil Proteins on a financing round of EUR 24 Million

Munich, February 02 2011 - Mummert & Company, an international and independent Corporate Finance advisor based in Munich, exclusively advised Scil Proteins on the conclusion of a financing round with its existing investor, BioNet Holding, worth €24 million. The funds are intended to finance the development of two products derived from the Company’s Affilin® platform into clinical Phase I over the next three years. Further terms of the financing were not disclosed.

Scil Proteins’ Affilin® therapeutics are so called scaffold proteins derived from the human protein Ubiquitin. Affilin® molecules are high affinity binders with excellent target specificity. The Affilin® platform has successfully delivered target specific molecules, which have subsequently shown activity in animal models, within only a few months. Scil Proteins intends to advance two Affilin® therapeutic candidates targeting cancer indications into clinical development

Dr. Ulrike Fiedler, CEO of Scil Proteins, commented: “BioNet Holding has supported Scil Proteins from its inception. They recognise the achievements and the enormous potential of our technology, and decided to back the company once more as the sole investor.”

Short Profile Mummert & Company Corporate Finance GmbH

Mummert & Company is a leading corporate finance advisor, specialized in the sectors High-Tech, Industrial Technologies, Life Sciences, Energy and Services. With offices in Munich, Vienna and Princeton (USA), Mummert & Company provides advisory services for the purchase or sale of companies or shareholdings (mergers & acquisitions), for the raising of equity capital (venture capital, private equity or the capital markets) and debt capital, for restructurings, for valuations (fairness opinions) as well as for the privatization of government-owned enterprises.

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Short Profile Scil Proteins

Scil Proteins is a biopharmaceutical company discovering and developing Affilin® molecules and working with industry partners in the development and manufacture of protein therapeutics and diagnostics. Affilin® molecules are therapeutics and diagnostics based on a scaffold derived from the human protein Ubiquitin to form highly stable molecules with strong binding specificity and low immunogenicity. Scil Proteins’ discovery platform is a fully patent protected screening technology for the identification of target-specific Affilin® molecules using advanced selection systems.. Scil Proteins has generated a pipeline of Affilin® therapeutics targeting cancer and other therapeutic areas. It also offers the technology to the industry for collaborative discovery and development partnerships. With a longstanding expertise in protein production and development, Scil Proteins also offers GMP contract biomanufacturing and process development to biotech and pharma companies. Scil Proteins is a well-established private company located in Halle, Germany.

Detailed information about Scil Proteins is available at www.scilproteins.com

Vanessa Kuenstler
Mummert & Company Corporate Finance GmbH
Prinzregentenstrasse 48, 80538 Munich
Tel. +49 (89) 23 23 77 30 Fax +49 (89) 23 23 77 77
kuenstler@mummertcompany.com

This release was published on openPR.