Kymab, a Cambridge, UK-based monoclonal antibody biopharmaceutical company, raised US$50m to complete a US$90m Series B financing.
The US$50 million is being invested by Woodford Patient Capital Trust plc (LSE:WPCT) and Malin Corporation plc (ISE:MLC). In association with the financing, Kymab has added G. Kelly Martin, former CEO of Elan Corporation, plc, and Director of Malin; and Dr. Adrian Howd, CEO of Malin to the board.
The company intends to use the funds to maximize the potential of its Kymouse™ platform and advance its proprietary pipeline of therapeutic human monoclonal antibodies in areas of significant unmet medical need.
Founded in 2009 and led by David Chiswell, Chairman and interim CEO, Kymab is using a transgenic human antibody platform to discover and develop fully human monoclonal antibody drugs. The company is now using the platform for its internal drug discovery programs and in partnership with pharmaceutical companies such as Novo Nordisk.
This additional funding followed the first US$40m Series B investment from the Wellcome Trust and the Bill & Melinda Gates Foundation.