Anaveon raises CHF 35 million
Anaveon, an immuno-oncology biotech, has successfully concluded a Series A financing round led by Syncona, a UK Life Sciences fund, and joined by the Novartis Venture Fund. The company was founded with financing from BaseLaunch, the healthcare accelerator of BaselArea.swiss in December 2017 and in 2018 also raised additional seed money from the UZH Life Sciences Fund.
Anaveon is developing a selective interleukin-2 receptor (IL-2 receptor) agonist to fuel a patient’s immune system to respond to tumors. The naturally occurring IL-2 receptor stimulates a type of immune cell called a T-cell to attack tumors. Il-2 is already being used for the treatment of cancer. However, there are side effects and dose limiting toxicities associated with IL-2 therapy. Anaveon’s approach plans to overcome these challenges and the proceeds of the Series A financing will now enable further development of its lead compound, as announced in a press release.
Anaveon was founded by Onur Boyman, Professor and Chair in the Department of Immunology at the University of Zurich (UZH), and Andreas Katopodis. Prior to this, Andreas Katopodis was Director of Autoimmunity, Transplantation and Inflammatory Disease at the Novartis Institutes for BioMedical Research.
Share this article
You might also be interested in
A research project is investigating the improvement in the condition of patients who have been hospitalized due to COVID-19. docdok.health based in Basel is contributing the smartphone app for the project.Read More
The Allschwil-based pharmaceutical company Idorsia receives a payment of 45 million US dollars as part of an agreement with Neurocrine Biosciences and shall also be entitled to claim milestone payments in future. Neurocrine has exercised a licensing option for a drug developed by Idorsia to treat epilepsy..Read More
Roche has received Emergency Use Authorization in the USA for an antibody test in connection with the novel coronavirus. The tests are already being distributed around the world. In May, production capacities are to already be scaled up to the high double-digit million area.Read More
Basel is valued as a location for company headquarters. In a rating from the fDi Intelligence platform of the Financial Times, Basel achieves eighth place in Europe. No other Swiss city does better.Read More
The investment and innovation promotion agency Basel Area Business & Innovation, previously known as BaselArea.swiss, can look back on a successful year in 2019. In this regard, positive developments in the healthtech sector and in Switzerland Innovation Park Basel Area stand out.Read More
The University Hospital Basel is the first Swiss hospital to have treated two Covid-19 patients with the plasma from a patient who has recovered from the virus, which means that they are receiving the appropriate antibodies. This method is a potential therapeutic option.Read More
The Basel-based Botnar Research Center for Child Health is providing capital in the amount of 15 million Swiss francs to its four partner institutions. In this way, the University of Basel should be in a position to advance research into dealing with the coronavirus outbreak.Read More