NextImmune to benefit from Venture Kick financing
The startup accelerator Venture Kick is supporting NextImmune with financing in the amount of 150,000 Swiss francs. The spin-off from the University of Basel is working on the development of selective immunosuppressive drugs. The fresh capital injection will facilitate preclinical development work at NextImmune.
Dr. med. Rajesh Jayachandran, Chief Scientific Officer and co-founder of NextImmune (img: NextImmune)
This year, Venture Kick is planning to support projects initiated by startups that open up access to the global markets for scientific organizations in Switzerland to the tune of 6.1 million Swiss francs overall, further details of which can be found in a press release issued by the startup accelerator based in Schlieren in the canton of Zurich. NextImmune can now look forward to banking a total of 150,000 Swiss francs from this pot. The spin-off from the University of Basel will put this financing towards developing a new generation of immunosuppressive therapies.
The Basel-based startup is working on the development of selective immunosuppressive drugs that protect against autoimmune diseases and transplant rejection without also compromising the immune response the human body requires to defend against infections and cancers. The financing should now enable NextImmune to carry out further preclinical development, the press release states. “The financial support, business insights, access to a smart pool of diversely talented individuals together with the overall experience gathered from our Venture kick journey will be instrumental for the follow-up fundraising activities of NextImmune”, explains Rajesh Jayachandran, Chief Scientific Officer and co-founder of NextImmune, in the press release.
BaseLaunch also supports NextImmune
NextImmune’s therapeutic approach is intended to help patients suffering from immunological or autoimmune diseases. The startup is also expecting interest from biotech and pharmaceutical companies that could market such an approach under a licensing agreement, Venture Kick writes in the press release. NextImmune is also supported by BaseLaunch. The biotech accelerator from the investment and innovation promotion agency Basel Area Business & Innovation included the startup in its portfolio in June of last year.