WMT AG receives financing with participation from L-Bank’s “InnoGrowth BW” program
Marathon Beteiligungs AG is the lead investor, CARMA Funds also participates in €3.67 million round
Heidelberg-based WMT AG today announced the completion of an equity financing round totaling €3.63 million. The lead investor, which was able to significantly expand its investment with the InnoGrowth BW program of L-Bank, is Dresden-based Marathon Beteiligungs AG, which is representing this round together with CARMA Fund I.
“We are very happy about this financing round, especially about the financing partners we have found for it,” says Dr. Claus Kremoser, CEO of WMT AG. “We will use the undoubtedly limited funds in a targeted manner to gain a better understanding of the molecular mode of action of our ‘Translational Trap’ active ingredients and to explore the best possible medical and therapeutic applications for them. Given the current very tense financing climate, we are very pleased to have this financial opportunity. The InnoGrowth program of L-Bank Baden-Württemberg, which can leverage private investment by up to 70%, is a blessing in these times. We would like to express our sincere thanks to L-Bank and, of course, our two other private investors for their support.”
Dr. Andreas Kluge, CEO and founder of Marathon AG, Dresden, adds: “We find WMT’s approach with the ‘translation trap’ very exciting. If this can be clinically validated, it will open the way for completely new therapies for various diseases that cannot be adequately treated at present. Our goal at Marathon is to promote groundbreaking innovations from and in Germany. WMT’s approach is also based on “small molecules” rather than super-expensive antibody or cell therapies. This would finally make new therapies affordable for the healthcare system again.”
Dr. Martin Raditsch, General Partner at CARMA Fund Management GmbH, adds: “The approach taken by Baden-Württemberg-based company WMT AG is new and certainly involves risks. However, we are familiar with Dr. Kremoser’s track record as a highly experienced and successful biotech entrepreneur. This combination of experience and network contributes significantly to reducing the risk associated with the venture.”
WMT AG is a research-based biotech company founded in 2020 and based in Heidelberg. The founding team led by Dr. Claus Kremoser, Dr. Iryna Charapitsa (CSO), and Dr. Christoph Steeneck (Senior VP Chemistry) has more than 60 years of combined experience in drug discovery and has brought a total of four new drug candidates into clinical development.
WMT researches and develops low-molecular-weight active substances that target new structures and mechanisms of action in cancer and immune cells as well as virus-infected cells. WMT has established and patented a chemical platform consisting of so-called “translational trap” molecules. On the one hand, TT molecules stimulate cells to produce even more protein, while at the same time inhibiting the actual protein translation process. This leads to a very effective blockade of cancer cells, stimulated and activated immune cells, or virus-infected cells. This results in a broad spectrum of applications for this completely new approach in various types of cancer, chronic inflammatory diseases such as rheumatism, lupus, or vasculitis, or even viral infections and viral sepsis.
WMT AG pursues the goal of developing highly innovative yet affordable drugs with high medical benefits. WMT develops therapies that are intended for use worldwide, including in developing countries, for the benefit of patients but also to conserve healthcare budgets.
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 inquiries.
