NOVO Holdings invests CHF 20 million in NBE Therapeutics

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28.06.2018
Stuecki Areal

Basel-based NBE develops antibody-drug conjugates (ADCs) for improved cancer therapy. The additional financing will allow NBE to advance the lead program NBE-002 into clinical development.

NBE Therapeutics closed a CHF 20 million extension of the Series B round. Together with an earlier CHF 20 million series B financing, led by PPF Capital Partners Fund (PPF) with the participation of the Boehringer Ingelheim Venture Fund (BIVF) and private investors, the total series B financing round of NBE-Therapeutics has reached CHF 40 million. Novo Holdings becomes a major shareholder of NBE Therapeutics, alongside BIVF and PPF. The additional financing will allow NBE to advance the lead program NBE-002 targeting ROR-1 primarily for the treatment of solid tumors into clinical development and additional ADC pipeline programs through early development.

NBE-Therapeutics develops next-generation ADC products. The company leverages proprietary platforms covering all aspects of ADC development: its patented Transpo-mAb Display technology for antibody discovery, patent pending SMAC-Technology for site-specific payload conjugation of toxins to antibodies and a novel ultra-potent anthracycline-based toxin platform.

Dr. Ulf Grawunder, CEO of NBE Therapeutics commented: “The additional investment by Novo into NBE-Therapeutics, represents another strong endorsement of our ADC platform, our team and our strategy for developing promising ADC product candidates for the benefit of cancer patients.” He continues: “We are particularly excited that Novo Holdings, with its outstanding track record and reputation in the field of life-science investments, has become a major shareholder of NBE-Therapeutics.”

As part of the transaction, Dr. Nanna Lüneborg, partner in the Novo Ventures team of Novo Holdings, has joined the Board of Directors of NBE-Therapeutics.

(Press release)

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