NBE-Therapeutics AG, a Basel, Switzerland-based biotech company, closed a USD 22M Series C financing round.
The round was led by its existing shareholders Boehringer Ingelheim Venture Fund and the PPF Group and with participation from all private shareholders.
The company intends to use the funds to advance development of the lead asset NBE-002 through early clinical trials and to further strengthen the development team, management and board.
Led by Dr. Ulf Grawunder, CEO and founder, NBE-Therapeutics is developing next-generation immune-stimulatory antibody drug conjugate (iADC™) products. NBE advances its products to clinical proof of concept with the goal of improving treatment options for cancer patients. The company leverages proprietary platforms covering all aspects of ADC development: its Transpo-mAb Display™ technology for antibody discovery, its SMAC-Technology™ for site-specific payload conjugation of toxins to antibodies and an immune-stimulatory anthracycline-based toxin platform.