NBE Therapeutics AG, a Basel, Switzerland-based biopharmaceutical company developing next-generation antibody-drug conjugates (ADCs) for improved cancer therapy, raised a CHF20m extension of the Series B round.
Together with an earlier CHF20m series B financing, the total series B round has reached CHF40m.
Novo Holdings joined previous investors PPF Capital Partners Fund (PPF), Boehringer Ingelheim Venture Fund (BIVF) and others, becoming a major shareholder. As part of the transaction, Dr. Nanna Lüneborg, partner in the Novo Ventures team of Novo Holdings, has joined the Board of Directors of NBE-Therapeutics.
The company intends to use the funds to advance the lead program NBE-002 targeting ROR-1 primarily for the treatment of solid tumors into clinical development and additional ADC pipeline programs through early development.
Led by Dr. Ulf Grawunder, CEO, and Theo Walthie, Chairman, NBE Therapeutics develops ADCs based on its proprietary site-specific SMAC-conjugation™ technology and a novel anthracycline-based toxin platform with the objective to develop ADC product candidates against tumor targets in cancer indications of high, unmet medical need.