Delenex Therapeutics AG, a Schlieren (Zurich), Switzerland-based biotech company developing therapeutic antibody fragments for diseases with high unmet need, has extended its Series A venture capital financing round securing an additional CHF16.7m ($19.3m, €13.0m).
This brings the total amount raised by the company in the round to CHF30.2m ($34.8m, €23.5m).
The investment was led by new investor Novo Ventures, with participation from existing investors SV Life Sciences, HBM BioCapital, HBM BioVentures, BioMedInvest and VI Partners.
The company intends to use the funds to bring DLX105 (an anti-TNFalpha single-chain Fv antibody) to proof of concept in inflammatory diseases, including dermatology, and evaluate the potential of Delenex’ PENTRA® antibodies against other targets.
In conjunction with the funding, Thomas Dyrberg, MD, Senior Partner with Novo Ventures, will join Delenex’ Board of Directors.
The company’s management team consists of Eric de La Fortelle PhD, MBA (CEO), Titus Kretzschmar PhD (CSO) and Jakob Schlapbach, MBA (CFO).