Amal Therapeutics, a Geneva, Switzerland-based biotech startup developing novel, peptide-based therapeutic cancer vaccines, raised €8M in first closing of Series B funding round.
The round was co-led by Boehringer Ingelheim Venture Fund, BioMedPartners and Helsinn Investment Fund with participation from VI Partners, High-Tech Gründerfonds and Schroder Adveq. In conjunction with the funding, Dr Hanna Kleczkowska from Helsinn Investment Fund and Dr Andreas Wallnöfer from BioMedPartners joined Amal’s Supervisory Board. Dr Erwin Boos from Schroder Adveq joined the Board as Board Observer.
The company intends to use the funds for the clinical development of lead vaccine (ATP128) for colorectal cancer through to clinical proof-of-concept, and for further development of KISIMA technology platform for therapeutic tumour vaccination
Founded in September 2012 as a spin-out from the University of Geneva and led by Dr Madiha Derouazi, CEO and founder, Amal Therapeutics uses KISIMA, its proprietary vaccine technology platform to develop and progress therapeutic vaccines in oncology.
KISIMA demonstrated potent and multi-antigenic long lasting anti-tumour immunity and prevented tumour immune escape in pre-clinical models achieved through the combination of a Cell Penetrating Peptide (CPP) with a multiantigenic chimeric cargo and a toll-like receptor agonist in one recombinant protein.