| 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
Yokogawa establishes innovation center in Allschwil
The Japanese conglomerate Yokogawa has established a Swiss subsidiary based at the Switzerland Innovation Park Basel Area. Here, the focus will be on driving forward innovation in the field of biotechnology.
Read More
Basel gains new biotech in Bright Peak
Versant Ventures has made a US$35 million Series A funding commitment to Bright Peak Therapeutics and has now announced the debut of this biotech. It will operate in Basel and San Diego.
Read More
Robots from Basel set to revolutionize surgery
The Werner Siemens Foundation is to invest an additional 12 million Swiss francs in the Miracle project. Researchers at the University of Basel are developing visionary technology for the use of robots in surgery within the framework of this project.
Read More
T3 Pharma raises over 25 million Swiss francs
T3 Pharmaceuticals AG has closed its third financing round, raising over 25 million Swiss francs. The Basel-based startup has developed a bacterial cancer therapy that it now intends to progress to clinical trials.
Read More
Versameb raises 6 million Swiss francs
The Basel-based biopharmaceutical company Versameb has successfully closed a seed financing round. Versameb develops therapies on the basis of mRNA sequences and is now seeking to drive forward the clinical development of its platform devised for this.
Read More
Genedata accelerating drug development
Genedata, a Basel IT company specializing in the life sciences sector, has agreed a collaboration with Thermo Fisher. The integration of their two platforms will help accelerate the development of drugs.
Read More
