Engimmune Therapeutics banks 15.5 million Swiss francs
Engimmune Therapeutics will now be in a position to drive forward its innovative platforms for the development of T-cell therapies against cancer after receiving seed financing to the tune of 15.5 million Swiss francs. The company was founded and built up with the help of the biotech accelerator and incubator BaseLaunch.
Engimmune Therapeutics has received investments totaling 15.5 million Swiss francs for the development of novel T-cell receptor (TCR) therapeutics to combat cancer. The Basel-based biotech firm is a spin-off from the Department for Biosystems Science and Engineering (D-BSSE), likewise based in Basel, of the Swiss Federal Institute of Technology in Zurich (ETH). The company was incubated and initially financed via BaseLaunch, an incubator and accelerator operated by the investment and innovation promotion agency Basel Area Business & Innovation.
The seed financing round that has now closed was led by the Swiss venture capital fund Pureos Bioventures, a BaseLaunch partner, and Novo Seeds, the early-stage investment and company creation team of the Danish firm Novo Holdings. The gross proceeds from this financing round are, according to a press release, to be put towards further expanding the Engimmune pipeline, bolstering the research team in Switzerland and gaining a foothold in the Danish market.
Long-standing support from BaseLaunch
Engimmune has also announced the appointment of TCR pioneer and industry veteran Dr. Bent Jakobsen as Chairman of the Board. As part of the transaction, Dominik Escher and Jørgen Søberg Petersen will join the company as Board Directors, while Ximing Ding and João Ribas will join as observers.
“The long-standing support from BaseLaunch together with these industry-leading investors and the in-depth expertise of Bent gives Engimmune the standing to become a leading contributor to this competitive yet promising space”, explains Søren Mouritsen, CEO of Engimmune, in the press release.
“It was a real privilege to work alongside the team at Engimmune to help build the company from scratch”, comments Stephan Emmerth, BaseLaunch Director, in the press release. This group of investors will enable the company “to continue developing their pioneering technology platforms to deliver truly differentiated TCR therapeutics”, he adds.
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