The News

NOXXON Pharma closes Series C Round at Euro 37 million

03/05/2007

Berlin, Germany May 3, 2007 -- NOXXON Pharma AG (NOXXON), developer of mirror image oligonucleotide therapeutics termed Spiegelmers®, announced today the successful closing of a 37 million Euro (50 million US $) series C round of financing.
The main new investors were TVM Capital, Sofinnova Partners, and Edmond de Rothschild Investment Partners, who are represented on the Board. They were joined by Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft AG (DEWB) as existing lead investor, FCP OP MEDICAL BioHealth-Trends (advised by Medical Strategy GmbH) and the Dieckell Group, as well as new investors Seventure Partners, Dow Venture Capital - a unit of The Dow Chemical Company -, IBG Beteiligungsgesellschaft Sachsen-Anhalt mbH, VC Fonds Berlin GmbH, and others to provide the funding for the pre-clinical and clinical development of NOXXON’s lead products in kidney disease and ophthalmology.

“This impressive investment puts NOXXON in an excellent position to move our lead compounds NOX-E36 for the treatment of lupus nephritis and NOX-A12 for the treatment of diabetic retinopathy into the clinic and through clinical proof of concept”, stated NOXXON’s CEO and CSO Dr. Sven Klussmann. “We are excited to drive these projects to the next development phase and to demonstrate the potential of the Spiegelmer technology. We feel honored to have received such strong financial support from this elite group of investors and thank our existing and new investors for their trust and strategic input in the past and as we move forward.”

Dr. Axel Polack, General Partner of TVM Capital, commented, "Over the past years NOXXON has managed to mature and profile its powerful discovery technology, resulting in the identification of very promising therapeutic candidates. We are pleased to co-lead this financing and to partner with this high-quality group of investors and management team in guiding the company through its next phase of growth." Denis Lucquin, Managing Partner at Sofinnova Partners added: “NOXXON is entering an important phase of corporate growth with its proprietary Spiegelmer technology that has the potential to become a major player in the next generation of therapeutics. We are delighted to be part of the team to support NOXXON’s strategic development and grow the tremendous therapeutic potential of Spiegelmers.”

NOXXON’s lead compounds NOX-E36 and NOX-A12 are high potency inhibitors that were generated with NOXXON’s proprietary Spiegelmer technology. A third Spiegelmer, NOX-B11, was licensed to Pfizer Inc in 2006 and is developed for the treatment of obesity. Spiegelmers are marked by their biostability and an extremely low potential for toxic or immunogenic side effects. The funds raised in this series C investment are allocated for the pre-clinical and clinical development of NOXXON’s lead products and to generate novel therapeutic leads in indications with unmet medical need.

About NOXXON Pharma AG:
Based on one of the biggest and best protected patent portfolios in the industry, Berlin-based NOXXON Pharma AG develops biostable aptamers, novel substances based on mirror image nucleic acids. These so-called Spiegelmers® (the German word “Spiegel” means mirror) are highly specific for the pharmacologically relevant target for which they were selected. Thanks to their structural characteristics, Spiegelmers® are extremely resistant to degradation and not immunogenic - a new generation of improved therapeutics.

Website info: http://www.noxxon.net/
General contact: Emmanuelle Camerer
NOXXON Pharma AG
Max-Dohrn-Strasse 8-10
10589 Berlin, Germany
Phone: + 49 30 72 62 47 0
FAX: + 49 30 72 62 47 225
Email: ecamerer@noxxon.net

About TVM Capital
TVM Capital, founded in 1983 under the name Techno Venture Management, is one of the first venture capital firms formed in Germany, and an early entrant into the US market in 1986. Since inception TVM Capital has raised over € 1.3 billion in six fund generations and has established itself as a leading technology investment group in Europe and the United States. TVM Capital funds have made investments in more than 235 technology and life science companies where innovation, effective management and sound financial backing have enormous impact on company growth. The TVM Capital in-depth knowledge of the European and US environment helps companies create businesses that enjoy access to science, management talent, distribution channels and capital on both sides of the Atlantic. More than 50 companies went public at European or US stock exchanges. Today, TVM Capital is actively invested in over 70 companies. For more information please visit: http://www.tvm-capital.com/.

About Sofinnova Partners
Founded in Paris in 1972, Sofinnova Partners is one of Europe's leading independent venture capital firms. With €900 million under management, Sofinnova Partners invests in start-ups and early-stage companies in information technology and life sciences. Its investment strategy consists of investing early in teams and projects with high potential, most often acting as lead or co-lead investor. Sofinnova Partners also benefits from a long-established relationship with its sister company in San Francisco, Sofinnova Ventures. Sofinnova Partners’ team consists of 10 professionals who bring market insight and technical expertise to portfolio companies. For more information please visit: http://www.sofinnova.fr/.

About Edmond de Rothschild Investment Partners
Paris based Edmond de Rothschild Investment Partners (EdRIP) is dedicated to minority investments into privately-owned companies. It has currently more than € 500 m under management which are being invested primarily as life sciences venture capital and growth capital. EdRIP is part of the group La Compagnie Financière Edmond de Rothschild. EdRIPs Life Science Team of 6 professionals has over 80 years of cumulated experience in the life science industry and approximately € 150 m under management. For more information please visit: http://www.edrip.fr/.

About DEWB
Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft AG (DEWB AG) is an investment company which specializes in young and established medium-sized companies within the region of Germany, Austria and Switzerland, focusing on the field of optical technologies and sensor systems, but including life science opportunities. We provide support for strong growth companies in the form of shareholders’ equity, comprehensive expertise in corporate development and our sector network. Since 1997 DEWB has invested more than 300 million Euros in 52 companies and realized more than 400 million Euros through 32 exits, eight of which were in the form of IPOs. The company’s registered offices are located in Jena, one of the most successful technology and science regions in Germany. For more information please visit: http://www.dewb-vc.com/.