| News

NBE-Therapeutics raises 22 million dollars

10.01.2020

The Basel biotech company NBE-Therapeutics has successfully closed a series C financing round. The funds raised will help the company develop its leading product candidate to fight cancer.

Research (Img: FreeImages.com)

The Series C financing round was led by current investors – the Boehringer Ingelheim Venture Fund and the PPF Group, announced a statement from NBE-Therapeutics. All current private investors were involved.

A total of 22 million dollars was raised, which NBE-Therapeutics will primarily use to develop its product candidate NBE-002. The first clinical trial on humans suffering from breast cancer or lung cancer is expected to take place in the summer. There are also plans to strengthen the development team, management and board with the funds.

NBE-Therapeutics develops antibody drug conjugates that stimulate the immune system. These are known as immune-stimulatory antibody drug conjugate/iADC. Unlike chemotherapy, they target only damaging cells in cancer therapy. To support its work, the company developed a platform.

“We highly value the trust our current shareholders have placed in both our technology platform and lead iADC program, through which we have been able to develop highly effective oncology treatments,” commented Ulf Grauwunder, founder and CEO of NBE-Therapeutics.

Member of the Board Jens Hennecke praised the progression of the biotech company, saying that it is now entering its next phase in becoming a leading clinical-stage company in iADC. Hennecke represents the investor PPF Group, whose subsidiary Sotio recently opened an office in the Technologiepark Basel with support from BaselArea.swiss. NBE-Therapeutics’ headquarters are also in the Technologiepark Basel.

Share this article

Sign up to receive our newsletter in your inbox.

You might also be interested in

VectivBio secures investments totaling 110 million dollars
Basel Area Business & Innovation, Innovation, Invest

VectivBio secures investments totaling 110 million dollars

The Basel-based biotechnology firm VectivBio has received a capital injection of 110 million US dollars from both new and existing...

Read More
Polyphor receives up to 18 million dollars for development of antibiotics
Basel Area Business & Innovation, Innovation, Invest

Polyphor receives up to 18 million dollars for development of antibiotics

The Allschwil-based company Polyphor has received a second funding award from the global consortium CARB-X to combat antimicrobial resistance. Polyphor...

Read More
What makes Switzerland’s economy resilient in face of COVID pandemic
Basel Area Business & Innovation, Invest

What makes Switzerland’s economy resilient in face of COVID pandemic

The COVID-19 pandemic has hit economies worldwide – and we have not yet overcome it. However, Switzerland is among the...

Read More
DayOne Accelerator applications open
Basel Area Business & Innovation, Innovation

DayOne Accelerator applications open

We are excited to announce the opening of the call for the DayOne Accelerator, now in its 3rd year!

Read More
Matériaux Sabag printing concrete elements
Basel Area Business & Innovation, Innovation, Invest

Matériaux Sabag printing concrete elements

The Jura-based company Matériaux Sabag is now using a 3D printing solution to produce its concrete elements. This approach allows...

Read More
Six companies win the i4Challenge
Basel Area Business & Innovation, Innovation

Six companies win the i4Challenge

The i4Challenge expert jury has selected six winners from 18 finalists. The Industry 4.0 solutions range from 3D printing, IoT,...

Read More
1 2 3 35

Do you have a question? We'd like to hear from you.