A Weitnauer team led by partners Andreas Michael and Prof. Dr. Hans-Eric Rasmussen-Bonne advised NRW.BANK on its investment in the Series C financing round of the diagnostics company SphingoTec based in Hennigsdorf (near Berlin).

SphingoTec develops and markets innovative in-vitro diagnostics (IVD) for novel and proprietary blood-based protein biomarkers. The company was able to raise EUR 5 million in equity in a Series C financing round. Other investors included Think.Health Ventures and existing investors HBM Healthcare Investments, Wellington Partners and Brandenburg Kapital. The capital raised will enable the company to achieve profitability through sustainable and strategic commercialization of its products. This includes supporting market development, out-licensing activities and close collaboration with licensees. SphingoTec is aiming for global expansion, including entry into the US market.

Weitnauer regularly advises NRW.BANK in financing rounds of portfolio companies.

Advisor NRW.BANK

Weitnauer Partnerschaft mbB Rechtsanwälte Steuerberater (Berlin): Andreas Michael, LL.M., Prof. Dr. Hans-Eric Rasmussen-Bonne, LL.M. (both Corporate/Venture Capital)

About NRW.Venture:

NRW.Venture is the venture fund of NRW.BANK. With this fund, the development bank for North Rhine-Westphalia supports innovative and technology-driven start-ups in the development, marketing and rapid expansion of their business model. NRW.Venture invests up to EUR 15 million in equity over several financing rounds - together with private-sector investors - and has been active in the market for more than 15 years.

Further information: www.nrwbank.de/de/gruender/nrwventure