To B, or not to B
How cancer company Rigontec plans to tap U.S. VCs for its next financing round
Rigontec GmbH's existing European investors convinced it to take more of their money instead of embarking on a series B financing because the syndicate wants to have a value-creating event in the rearview mirror before letting new investors in. The company closed a €15 million ($16.8 million) final expansion of its series A last week, and expects to be able to court new, U.S.-based VCs at a higher valuation in six months after it unveils tox data for lead product RGT100.
Boehringer Ingelheim Venture Fund, Forbion Capital Partners, High-Tech Gruenderfonds, NRW.Bank, MP Healthcare Venture Management, Sunstone Capital and Wellington Partners Life Sciences participated in last week's financing, which put the round's total at €29.3 million. ...