Numab Therapeutics completes oversubscribed CHF 100 million Series C financing
Numab Therapeutics, a clinical-stage biopharmaceutical company developing next-generation multi-specific antibody-based immunotherapies for cancer and inflammation, closed a CHF 100 million Series C financing. The financing was co-led by new investors Novo Holdings and HBM Partners, with participation from additional new investors Forbion via its Forbion Growth Opportunities Fund, Cormorant Asset Management, BVF Partners L.P., RTW Investments L.P., funds and accounts under the management of BlackRock, Octagon Capital Advisors, and existing investors. Concurrent with the financing, Nanna Lüneborg from Novo Ventures, Matthias Fehr from HBM Partners, and Carlo Incerti from Forbion have been appointed to Numab’s Board of Directors. Numab Therapeutics was among the TOP 100 Swiss Startups in 2013 and 2014.
The Numab Therapeutics co-founders (from left to right): David Urech (CEO), Peter Lichtlen (CMO), and Oliver Middendorp (CBO)
Proceeds will support the acceleration and expansion of the clinical development of Numab’s lead program NM21-1480 into multiple cancer indications and the advancement of the company’s pipeline of multi-specific antibodies in oncology and inflammation into clinical trials.
“We are thrilled to be supported by such a strong group of investors who share our vision for the company’s future,” said David Urech, PhD, founder and CEO of Numab Therapeutics. “Combining PD-L1 blockade with tumor localized 4-1BB co-stimulation in a single molecule emerges as an attractive next-generation therapeutic strategy in solid tumors, and Numab’s lead compound NM21-1480 has best-in-class potential. The financing will help us to maximize the value of this asset by significantly expanding the clinical development program and accelerating toward phase 2 proof-of-concept.”
“We are impressed by the biological insights that went into the engineering of NM21-1480 and by the innovative pipeline that Numab has established. We believe that Numab’s Lambda-capTM and MATCHTM technologies can provide treatment options with favorable benefit-to-risk profiles,” said Matthias Fehr, head private equity at HBM Partners.
“Backing companies built on clearly differentiated science in areas of major unmet medical need is at the heart of Novo Holdings’ investment strategy. We are, thus, thrilled to co-lead Numab’s Series C financing to support the company at a pivotal stage in growth,” commented Nanna Lüneborg, partner at Novo Ventures.
Numab Therapeutics was among the TOP 100 Swiss Startups in 2013 and 2014.
Numab Therapeutics AG: Innovates and develops antibody-based therapeutics
Our proprietary platforms Lambda-Cap™ and MATCH™ are designed to create differentiated therapeutics on a repeatable basis. Using a novel, rational process, our discovery and engineering technology yie... Read more
