Y-mAbs Therapeutics, Inc., a New York-based immunotherapy company discovering and developing innovative treatments for patients with cancer, closed a $50m equity financing.
The round was led by HBM Healthcare Investments (HBM) with support from current shareholders.
The funding will enable YmAbs to focus on bringing its lead compounds, burtomab and naxitamab, through the final steps of the regulatory pathway towards approval.
Led by Founder, President and Head of Business Development and Strategy Thomas Gad, and Dr. Claus Møller, Chief Executive Officer, YmAbs is a clinical stage biopharmaceutical company focused on developing new cancer treatments through immunotherapies. Its lead antibody programs target GD2 and B7-H3. In addition, YmAbs utilizes its platform technologies to create next-generation humanized, affinity matured bispecific antibodies. To further improve its bispecific antibodies, the company is collaborating on the development of a novel human protein tag that dimerizes T-cell engaging bispecific antibodies, which enables higher tumor binding and results in a longer serum half-life and a significantly T-cell mediated killing of tumor cells.