Amal Therapeutics SA raises seed round from Boehringer Ingelheim Venture Fund and High-Tech Gründerfonds
Amal Therapeutics SA, a Swiss and German-based company focusing on the development of therapeutic cancer vaccines, announced today that it has closed its seed financing round. The funds will be used to consolidate the cell-penetrating peptide based technology platform and progress the first vaccine candidate up to preclinical development. The investment round was led by Boehringer Ingelheim Venture Fund (BIVF), joined by the High-Tech Gründerfonds (HTGF). The company also announced that it appointed Knut Elbers, Director and Investment Manager of the Boehringer Ingelheim Venture Fund to its board of directors.
Amal Therapeutics was founded in 2012 as a spin-off of the University of Geneva. The company is developing a recombinant protein based vaccine with proprietary cell penetrating peptides as vector. The unique properties of this platform are its capacity to stimulate a potent integrated and multi- epitopic cellular immune response targeting cancer cells. Madiha Derouazi, CEO and founder of Amal Therapeutics, says: “I am proud of the confidence that BIVF and HTGF have shown in our technology platform. I am delighted that Dr Elbers is joining our board and I am very confident that his experience in vaccines will contribute to our future development.”
“I believe that Amal has the potential to develop a ground-breaking platform technology for cancer vaccination. I am pleased to join the board of Amal Therapeutics and to be working together with the scientific founder on proving the concept”, commented Knut Elbers from BIVF.
“Amal’s approach fulfills all requirements of an efficient vector for cancer immunotherapy applications and we are looking forward to further validating the platform with the proceeds of this round”, adds HTGF’s Investment Manager Christian Jung.
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