ChemomAb, a Tel Aviv, Israel-based bio-pharmaceutical startup, completed a $10m funding round.
The round was led by OrbiMed Israel and Peter Thiel, with participation from SBI Japan-Israel Innovation Fund and Milestone Venture.
The company, which has previously raised $5m from OrbiMed Israel and private investors, intends to use the funds to move forward with its clinical program for the product while examining its efficacy and safety profile in patients with non-alcoholic fatty liver disease (NASH), to further develop the product for additional fibrotic orphan indications and test its effectiveness in these diseases.
Established in 2011 and led by Dr. Adi Mor, CEO, ChemomAb develops monoclonal antibodies for the treatment of inflammatory and fibrotic diseases. Its leading product, which is currently in phase 1 clinical trials in Israel, is a first in class monoclonal antibody, directed against a key protein in the control of cellular response in a disease state. The protein is designed to treat patients with fibrotic and inflammatory diseases through a novel dual mechanism of action that interferes with fibrosis processes directly as well as attenuates the inflammatory process that supports the fibrotic milieu and disease progression.
The company’s offices are located in Ramat HaChayal, Tel Aviv and employs seven professionals.