CDR-Life raises USD 76 million in Series A funding to support advancement of its transformative cancer immunotherapies
CDR-Life Inc., a biotechnology company pioneering a new and differentiated class of highly tumor-specific immuno-oncology therapeutics based on its proprietary antibody-based MHC-targeting T cell engager technology, closed a USD 76 million Series A financing led by Jeito Capital and RA Capital Management, with participation from Omega Funds. In connection with the financing, Rafaèle Tordjman, Founder & CEO of Jeito Capital, Daniel Marks, Principal of RA Capital, and Claudio Nessi, Managing Director of Omega Funds, will join the Company’s Board of Directors. We interviewed CEO Chrisitan Leisner, Ph.D. to know more about the use of the funds and his entrepreneurial path.
CDR-Life is currently advancing its lead program, CDR404, a first of its kind dual MAGE-A4 T cell engager which targets solid tumors across multiple indications, based on the Company’s unique M-gager® technology. Proceeds from the Series A financing will advance CDR404 through potential clinical proof-of-concept readout as well as expansion of the pipeline leveraging the Company’s M-gager® technology for targeting intracellular antigens positioned to deliver unparalleled specificity and affinity in solid tumors.“We are honored to have the support of these high-caliber investors, reflecting both the critical need for effective T cell engaging therapies against solid tumors and the support of the CDR-Life product engine and development pipeline,” said Christian Leisner, Ph.D., Chief Executive Officer of CDR-Life. “The proceeds from this financing allow us to fund our first clinical proof-of-concept opportunity with CDR404 while continuing the development of novel targeted immunotherapies based on CDR-Life’s superior T cell engaging platform. We are thankful to have the opportunity of raising a significant Series A round in such challenging times with an excellent European and US co-led investor group, assisting us in advancing our pipeline and goal of empowering cancer patients with uniquely targeted immunotherapies.”
Based in Switzerland, CDR-Life is led by an experienced team of biotech executives who have developed new medicines and closed substantial biotech deals, including Beovu® and ESBATech. The Company has an ongoing partnership with Boehringer Ingelheim, advancing its program, CDR202, into the preclinical stage of development targeting macular degeneration. Clinical candidate, CDR101, a next-generation BCMA, CD3 and PD-L1 targeting tri-specific antibodies in preclinical development for the treatment of multiple myeloma (MM) has recently demonstrated increased in vitro activity compared to clinical stage-like bispecific BCMA therapies, inducing superior T cell activation in bone marrow samples of MM patients and more durable tumor eradication in a mouse xenograft model. CDR101 is ready for IND-enabling studies.
Christian, how will the USD 76-million-investment led by Jeito Capital and RA Capital Management, with participation from Omega Funds, help achieve your vision?We will use the funds to advance CDR404, our lead cancer immunotherapy project against MAGE-A4, through to clinical proof-of-concept readout as well as for the expansion of the pipeline leveraging CDR-Life’s M-gager® technology to advance several first-in-class opportunities.
You participated in Venture Leaders Life Sciences 2018. How did it leverage your fundraising strategy?
The Venture Leaders Life Science program was excellent to get to know and help orient us in the US life science investor community and to meet high-profile Boston-based life science venture funds for the first time.
When, and what, was your inspiration to found CDR Life?
CDR-Life was founded in 2017 by a seasoned team of inventors, drug developers, and biotech builders with a proven track record in the development of therapeutic antibody fragments and a common mission to develop new and highly tumor-targeted cancer immunotherapies. Our founders previously built ESBATech, a Swiss antibody-fragment-based biotech acquired in 2009 by Alcon (now Novartis).
What is your advice for the potential Biotech entrepreneurs launching companies in Switzerland today?
Engage fully with passion and humility, continue to learn, and don’t give up.
CDR-Life AG: In CDR-Life we make transformative cancer immunotherapies
CDR-Life is a privately held, biotherapeutics company leveraging its unique antibody technology, M-gager®, to target highly cancer-specific intracellular proteins presented on the major histocompatibi... Read more
