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Probiodrug Closes Series B Financing Round exceeding EUR 36 Million (US$54 Million)

Company wins BB Biotech and Edmond de Rothschild Investment Partners as co - lead investors, joined by LSP Life Science Partners , Biogen Idec New Ventures and existing investors

Halle/Saale, November 2nd, 2009 -- Probiodrug AG (Probiodrug), a biotech company developing novel concepts and products for the treatment of neurodegenerative and inflammatory diseases with a particular focus on Alzheimer's disease, today announced the successful closing of a Series B financing round. The total round amounts to more than €36 million.

New shareholders include BB Biotech and Edmond de Rothschild Investment Partners (EdRIP) (acting as co-lead investors), LSP Life Science Partners (LSP) and Biogen Idec New Ventures. The round found strong support from all existing institutional shareholders - IBG Fonds (managed by Goodvent), TVM Capital, HBM BioVentures, CFH Group as well as private investors.

Source: http://www.probiodrug.de/index.php?id=28&tx_ttnews[tt_news]=53&cHash=39e2addbf8

Complete Press Release here.

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