Cellecia Biotech has closed a CHF 20 million series B round led by FC Capital, Shanghai. The new funds bring the company's total investment to-date to CHF 49 million. The funds will be used to finance the operations and to advance the ongoing Phase l clinical trial into Phase II.
Cellestia Biotech is a clinical-stage biotech company developing innovative first-in-class cancer drugs based on its innovative discovery platform. The Basel based company currently progressing the ongoing clinical development program of CB-103, an oral pan-NOTCH inhibitor indicated for the treatment of patients with NOTCH-driven leukaemias, lymphomas and solid tumours. CB-103 is the first drug to selectively target this pathway at the level of the oncogenic transcription factor. Cellestia holds a worldwide exclusive license on the intellectual property rights for CB-103 and related series of analogues, for development and commercialization.
Today, Cellestia announced the closing of a CHF 20 million Series B financing round led by FC Capital, Shanghai, PPF Group; Partners Investment, Seoul; and significant investments by existing and new private investors. The new funds will be added to the previous, including CHF 8 million Seed financing, CHF 20 million Series A financing and CHF 1 million non-dilutive research grants, bringing the total capital raised to date by Cellestia to CHF 49 million (USD 50 million).
The new funds will flow into operations and allow Cellestia to advance its innovative R&D pipeline activity. “This financing strengthens our balance sheet as we work to achieve important milestones for our clinical candidate CB-103 as well as the follow-up compounds,” said Gaudenz von Capeller, CFO of Cellestia Biotech AG.
Field experts join the board of directors
In June 2019, Guido Guidi (Former Head Europe Novartis Pharma / Head Novartis Oncology Europe) was elected new Chairman of Board of Directors. Robert Karsunky (Head Latin America & Canada at Novartis Pharma) elected new Chairman of the Audit Committee and to the Board of Directors.
Michael Bauer, CEO of Cellestia Biotech AG said, “Guido’s experience and knowledge in development, business and building a successful organisation is a tremendous asset to our company, and we are delighted that he has joined Cellestia as Chairman of our Board. Robert brings long-standing financial expertise to the board and strengthens internal governance in his roles as Chairman of the Audit Committee and Member of the Board. With these additions to the board, we are further adopting the board memberships in line with the company´s growth and development.”
“I am excited to be a part of Cellestia’s journey. I find the science to be compelling and look forward to supporting the development of this novel precision oncology solution,” said Guido Guidi.
(Press release/ran)
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