Pevion Biotech AG secured further financing commitments of CHF 10 million from its existing investors, BZ Bank, BB Biotech Ventures and Core Capital. Pevion plans to raise additional financing over the next twelve months to broaden and further its pipeline.
"Pevion has reached an important stage in its development as its candidate products reach for critical milestones. This financing commitment should take the company a long way towards achieving further product validation and reaching important company value inflection points," informed Joseph Manko, BZ Bank and member of the Board of Directors.
Another important development within the company was the appointment of Evert Kueppers as its new chief executive officer, he succeeds Thomas Stauffer. Prior to joining Pevion, Evert Kueppers was CEO of Pieris AG, a Munich-based biotechnology company, which he successfully restructured and refinanced raising a total US$ 45 million. Before that, Evert was Head of Business Development at IDEA AG, where he was instrumental in corporate development and partnering activities.
Before joining the biotech industry, he spent several years in the international operations of BASF Pharma (now Abbott Labs) and was a management consultant with the global health care team of AT Kearney in London. Evert holds an advanced degree in Biomedical Sciences from Leiden University and an MBA from RSM/Erasmus University. He currently also serves on the Board of Cenix Bioscience.
Klaus Breiner of BB Biotech Ventures and Chairman of the Board of Directors said, "We would like to thank Thomas for his excellent contributions over the years and wish him all the best in his new position. We are very pleased that we could attract Evert to become the new CEO of Pevion. With his experience and hands-on approach, Evert is a perfect fit to lead the company in this exciting phase."