Record exit for Hightech-Gründerfonds

The German biotech company MYR is going to the USA for 1.15 billion euros. This particularly pleases High-Tech Gründerfonds, which had already joined as an early-stage investor.

It's a milestone for two companies at once, and it's hard to say who's more excited these days. At German biotech start-up Myr Pharmaceuticals, the founders should be happy about a billion-dollar exit to US pharma firm Gilead and thus full cash. At High-Tech Gründerfonds (HTGF), meanwhile, they are not only celebrating some kind of exit and also a lot of money, but also the largest sale since the founding of the state-owned private early-stage investor. Many millions of euros are likely to flow back to HTGF in this way.

The US company Gilead is paying 1.15 billion euros for the Bad Homburg-based company, which recently made the headlines with its drug "Hepcludex", in a positive sense. The drug is supposed to help against hepatitis D infections and has been conditionally approved by the European Medicines Agency since this year. MYR expects U.S. approval in 2021.