The Düsseldorf-based family office is particularly impressed by the sustainable research and development approach
Düsseldorf and Heidelberg, November 27, 2023
The family office FS Life Science Investment GmbH and the Heidelberg-based biotech company WMT AG announced today that FS Investment has invested in WMT AG as part of the current bridge financing.
Dr. Frank Schäfer, Co-Managing Director of FS Investment, says: "We were convinced by the research approach as well as the employees and management of WMT. It is important that there are still research-based biotech companies that not only develop very complex and therefore later very expensive new treatments for serious diseases, but also small molecules that are much cheaper to produce. If WMT achieves a breakthrough in one of the therapeutic areas, there is a chance of finding effective yet affordable active substances. This will allow us to reach all sections of the population in developed countries and, above all, patients in less developed countries, and that is what convinced us as an approach."
Dr. Claus Kremoser, CEO of WMT AG, adds: "We are very happy to have found an investor in Carmen and Frank from FS Investment who will not only help us to further develop our projects in these difficult times. We are also very pleased that they like our idea of targeting certain subtypes of ovarian cancer, endometrial cancer, rare leukemias and certain subtypes of chronic inflammatory diseases with substances that are easy and therefore inexpensive to produce and that they have invested into this approach.
We often hear that only expensive and complex immune or cell and gene therapies have a chance with these serious diseases. We don't believe that, because looking back, small molecules have always worked very well. Cell or gene therapy can cost several hundred thousand euros per patient. The worst thing that could happen to our healthcare system would be for these expensive cell therapies to be widely used in common types of cancer, because then it would soon run out of money."
FS Life Science Investment is a Düsseldorf-based investment company backed by entrepreneur Dr. Carmen Zirngibl and multiple biotech founder and molecular biologist Dr. Frank Schäfer. FS Investment focuses on sustainable concepts and invests primarily in the early stages of a company's development. In addition to the life science sector, the portfolio also includes start-ups from other segments.
WMT AG is a research-based biotech company founded in 2020 and headquartered in Heidelberg. Dr. Claus Kremoser, the main founder and current CEO of WMT Aktiengesellschaft, has 25 years of experience in the research, development and commercialization of drug discovery projects and has already brought four drugs into clinical development.
WMT researches and develops small molecule drugs that target new target structures and mechanisms of action in cancer and immune cells. The new mechanism results in the activation of the integrated stress response (ISR), which causes cancer cells or activated immune cells to cease their metabolic activity. The small molecules developed by WMT can be targeted to different cell types or tissue types using specific tags, i.e. "chemical address labels". This allows WMT scientists to use the same new mechanism of action for the development of cancer drugs as well as for new therapies for chronic inflammatory diseases.
To date, WMT has been financed primarily by various private investors and family offices as well as by the High-Tech Gründerfonds and is open to further investment requests.
Dr. Claus Kremoser
Chief Executive Officer
c/o Dr. Sanja Perovic-Ottstadt
Phone: +49 (0)6221 63906-40
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