Arcarios B.V. announces final closing of seed-financing round Rotterdam

Rotterdam (The Netherlands) / Diepenbeek (Belgium) – September 8, 2010 - Dutch biotech company Arcarios B.V. announces successful completion of a seed-financing round. An international syndicate of investors has funded the company to further develop its lead programs in the field of osteoarthritis and bone diseases.

Recently Arcarios announced the first closing of a seed-financing round, today Arcarios is happy to announce that LRM joins the existing international investor syndicate to bring the total funds raised to 4.1 mln EUR. LRM provides risk capital and infrastructural solutions to local and international ventures that invest in the province of Belgian Limburg. Nico Vandervelpen, Head of Life Sciences at LRM comments: “We are excited to participate in this financing round. Combining its strong management with its unique technology platforms, we expect Arcarios to establish an innovative product pipeline for the treatment of musculoskeletal diseases.” The existing investors include BioGeneration Ventures, the lead investor of this seed-financing round, Tigenix, NV, Erasmus MC Biomedical Fund, Gemma Frisius Fund K.U.Leuven, Baekeland Fund, VINNOF, CD3 Leuven and Credit Agricole Private Equity. Tolleiv Trimborn, CEO Arcarios comments: "We are delighted that LRM joins this financing round. Our R&D facilities will be located in the BioVille incubator in Diepenbeek, which makes the support of a strong local investor even more attractive. LRM has a balanced life sciences team adding additional knowledge and expertise to our team. Together we can grow Arcarios into a successful life sciences company.”

Arcarios was recently established through a merger of Therosteon B.V. and a spin-off from Tigenix NV (Euronext: TIG). The Company focuses on the development of novel disease-modifying therapeutics in the field of bone and joint diseases. Its products are aimed at actively restoring bone or joint defects and address a clear unmet medical need. The Company has two early pre-clinical programs, a small molecule that will be developed for the treatment of osteoarthritis. The Company’s second program is a therapeutic protein, which will be developed to treat specific bone diseases. In addition Arcarios has two high-content screening platforms: ChondroBOOST and OsteoBLAST that focus on the discovery of new drug-targets in the field of joint and bone diseases respectively. Arcarios is headquartered in Rotterdam, The Netherlands and has research facilities in Rotterdam and Diepenbeek (Belgium).

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