Global law firm Dentons has advised the Berlin-based EU Malaria Fund (EUMF) on venture debt financings for biotech companies Achilles Vaccines, Magnetrap, KELTIC Pharma and Sumaya. The funds will support innovative research programs in malaria vaccine development, diagnostics and therapy.
The EU Malaria Fund combines funds from the European Union, the European Investment Bank, Investitionsbank Berlin, the Bill & Melinda Gates Foundation and other national and private European stakeholders. It aims to bridge the gap between research and the market and to provide innovative solutions for the prevention and treatment of serious infectious diseases. With the completion of the most recent fundings, the EUMF will be closed.
Achilles Vaccines specializes in the research and development of vaccines against malaria and other serious infectious diseases. Following an initial loan in 2020, the EUMF is providing further funding to support the development of a technology platform and a universal meningococcal vaccine (menOMVax).
Magnetrap’s goal is to develop highly accurate, rapid and easy-to-use tests at affordable prices. The company will use the funding to advance the development of a non-invasive diagnostic test for easy detection of malaria.
KELTIC Pharma is working to develop an optimized drug for the treatment of malaria. The company will use the funding to open offices in Glasgow and Dublin.
Sumaya was founded as a spin-out from the University of Heidelberg. The company is working on the clinical development of a novel, innovative malaria vaccine based on the MSP-1 protein.
A Dentons team from DĂĽsseldorf, Frankfurt and Berlin fully advised the EUMF on the venture loans to the four biotech companies. Dentons had previously advised the fund on financings for Achilles Vaccines, Sanaria and DMG Deutsche Malaria. Dentons also advised the Investitionsbank Berlin (IBB) group of companies on the establishment of the EUMF in June 2020.
