Amal Therapeutics SA, a Geneva, Switzerland and Berlin, Germany-based company focusing on the development of therapeutic cancer vaccines, raised a seed round of funding.
The round – whose amount was not disclosed – was led by Boehringer Ingelheim Venture Fund (BIVF), with participation from High-Tech Gründerfonds (HTGF). In conjunction with the funding, Dr. Knut Elbers, Director and Investment Manager of the Boehringer Ingelheim Venture Fund, joined Amal’s board of directors.
Founded in 2012 by Madiha Derouazi, CEO, as a spin-out from the University of Geneva, Amal Therapeutics uses its proprietary cell penetrating peptide platform to develop and progress therapeutic vaccines in oncology.
The company intends now to use the funds to consolidate the cell-penetrating peptide based technology platform and progress the first vaccine candidate up to pre-clinical development.