GamaMabs Pharma, a Toulouse, France-based biotechnology company developing optimized therapeutic antibodies for the treatment of cancer, completed a €15m ($15.9m) Series B financing round.
The round was led by new investor BioDiscovery 4, a fund managed by Edmond de Rothschild Investment Partners (EdRIP) with participation from existing investors InnoBio, Irdinov, Alto Invest, iXO Private Equity. Following the fundraising, Gilles Nobécourt, partner at EdRIP, and Prof. Thierry Hercend will join GamaMabs Pharma’s board of directors.
Led by Stéphane Degove, CEO, GamaMabs Pharma develops innovative monoclonal antibodies in cancer. Its lead project is the first-in-class monoclonal antibody (mAb) GM102 (formerly known as 3C23K), currently in pre-IMPD stage, which targets the Anti-Mullerian Human Receptor II (AMHRII / MISRII) in gynecological cancers. AMHRII, a protein expressed on tumor cell’s membrane surface in various gynecological cancers as well as activates immune cells present in the tumor microenvironment. The first-in-man clinical trials of GM102 will start in the first half of 2016.
The company, which had raised €3.6m ($3.8m) in 2013 in a Series A funding round led by InnoBio (Bpifrance), intends to use the funds to conduct the phase I and phase II clinical trials of GM102.