| 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

Basel Area – exactly the right chemistry for South Korean pharma companies
Basel Area Business & Innovation, Innovation, Invest

Basel Area – exactly the right chemistry for South Korean pharma companies

KPBMA and Basel Area Business & Innovation establish tailored collaboration to support Korean biopharmaceutical companies to enter the European market

Read More
Basel Area supporting three digital health startups
Basel Area Business & Innovation, Innovation, Invest, Switzerland Innovation Park

Basel Area supporting three digital health startups

Basel Area Business & Innovation will be offering intensive support to the three winners of its DayOne Digital Health Accelerator...

Read More
Gray establishes presence in Basel
Basel Area Business & Innovation, Innovation, Invest

Gray establishes presence in Basel

The North American fully integrated specialty service provider Gray has established a subsidiary in Basel. The key factors in favor...

Read More
Artificial Intelligence able to identify potentially life-saving antibiotics
Basel Area Business & Innovation, Innovation, Invest

Artificial Intelligence able to identify potentially life-saving antibiotics

A computer algorithm has identified antibiotics that that are still effective against infections in which multi-resistant germs are present. University...

Read More
Investors give Anaveon 110 million Swiss francs
Basel Area Business & Innovation, Innovation, Invest

Investors give Anaveon 110 million Swiss francs

Anaveon has received investment commitments amounting to 110 million Swiss francs in a Serie B funding round. The Basel-based biopharmaceutical...

Read More
Basel alliance seeks to combat antibiotic resistance
Basel Area Business & Innovation, Innovation, Invest

Basel alliance seeks to combat antibiotic resistance

The Spearhead alliance has been founded in Basel with the aim of combating the silent pandemic of antimicrobial resistance. By...

Read More
1 2 3 52

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