Pharmaceutical firm Boehringer Ingelheim’s Venture Fund (BIVF) and diversified holding company PPF Group yesterday co-led a $22m series C round for Switzerland-based cancer antibody developer NBE Therapeutics.
NBE’s existing private shareholders all participated, however none were identified in the press release.
Founded in 2012, NBE Therapeutics is working on cancer treatments which combine antibody drug conjugates with an existing chemotherapy called anthracycline to stimulate the immune system and kill off cancerous cells.
The funding will sustain early clinical development from mid-2020 on NBE’s lead asset – NBE-002 – with a focus on treating triple-negative breast cancer and lung cancer, as well as other solid tumour and lymphoma-based indications.
NBE Therapeutics raised $40.2m for its series B round, including a $20.2m tranche supplied in July 2018 by BVIF in addition to fellow drug maker Novo, PPF’s Capital Partners Fund and unnamed private investors.
BVIF, PPF and unnamed private investors also provided the series B round’s initial $20.5m tranche in 2016, after a $3.1m BIVF-led series A in 2015 that followed approximately $2.6m in seed funding raised by NBE previously.