Index Ventures leads E34m financing round for Cellzome

The biopharmaceutical company will use the funding to boost infrastructure, programmes and recruit staff.

Venture capital company Index Ventures has has led an E34m private placement for Cellzome GmbH, a biopharmaceutical company.

New investors include Paris-based Sofinnova Ventures and Schroders Investment Management. Atlas Venture, Advent International, Heidelberg Innovation and the company's founders have made return investments. Neil Rimer, general partner at Index, will join the supervisory board of directors of Cellzome.

Cellzome will use the capital to boost infrastructure, programmes and staff. This second round of venture capital financing brings the total amount of private funds raised by the company to more than E42m since it was set up in May 2000.

Commenting on the financing, Stelios Papadopoulos, chairman of the supervisory board of Cellzome, said: “Cellzome is uniquely positioned for success. It combines scientific excellence and significant human and financial resources, with leadership and commercial purpose.”

Cellzome is a functional proteomics company which was formed in partnership with the European Molecular Biology Laboratory (EMBL). The money raised will allow the company to expand the scope of its research and development program and to increase the throughput of its technology platform. The company integrates protein complex purification, mass spectrometry and bioinformatics to discover and validate targets. The company says that this approach to drug discovery will lead to a new generation of pharmaceuticals based on proteins operating within their molecular environment rather than in isolation.

Index has raised $191 towards its target of $300m for its latest fund, which is expected to be closed at the end of March.