NBE Therapeutics Raises CHF 20 Million in Series B Funding

Please login or
register
03.11.2016
NBE Therapeutics Lab

NBE Therapeutics AG, a biopharmaceutical company developing next-generation antibody-drug conjugates (ADCs) for improved cancer therapy, today announced closing of a CHF 20 million Series B financing round.

PPF Group led the round with participation from Boehringer Ingelheim Venture Fund, all other existing private investors and a new private investor. The funds will enable NBE to advance the lead product of its ADC pipeline to the end of phase I/II clinical trials and further develop its cutting-edge platforms.

NBE develops next-generation ADC products with the potential to improve the outcome for cancer patients, as it continues to develop ADCs based on its Transpo-mAb antibody platform, site-specific SMAC conjugation technology and novel ultra-potent toxin platform.

“We highly value the support from our existing and new investors in this significant Series B round. PPF joining the consortium is a strong endorsement of our ADC platform, our team and our strategy,” Dr. Ulf Grawunder, CEO of NBE Therapeutics commented. “The proceeds from this financing round and the expertise provided by our shareholders will allow NBE to progress to a clinical stage company and advance our ADC platform and products to clinical proof-of-concept.”

Dr. Frank Kalkbrenner, head from the BI Venture Fund welcomes the additional investors supporting the maturation of the highly innovative technology of NBE Therapeutics. “This is a key step for NBE Therapeutics, validating their promising technology and providing the opportunity to validate their ADC assets in the clinic. The Boehringer Ingelheim Venture Fund is delighted to see another part of its broad cancer portfolio moving forward successfully.”

As part of the transaction, Dr. Jens Hennecke, CBO of SOTIO a.s., has joined the board of directors of NBE. SOTIO is an international biotechnology company developing therapies for the treatment of cancer. As a member of PPF Group, SOTIO is spearheading PPF’s investment and partnering activities in the biotechnology sector.

“NBE’s next-generation ADC platform with its excellent scientific results provides the basis for novel and highly differentiated cancer therapies,” Dr. Jens Hennecke comments. “We are excited about leading this  round of funding and look forward to working with NBE over the coming years as it validates the potential of the products to the benefit of patients suffering from solid and hematologic cancers.”


(Press release)

0Comments

More news about

NBE-Therapeutics LLC

Company profiles on startup.ch

NBE-Therapeutics LLC

rss