Switzerland-based biotechnology company NovImmune, which has previously been backed by drugs company Novartis, has raised SFr20m ($21m). Local private bank BZ Bank Aktiengesellschaft led the round following the company’s antibody licensing deal with drugs company Genentech, part of Swtizerland-based Hoffman-La Roche, in July.
In May last year, NovImmune raised SFr62.5m from BZ on behalf of its private clients and hired Penelope Ward from Roche to be its chief medical officer. In 2007, Eduard Holdener, former head of global pharmaceutical development at Roche, joined NovImmune as chairman.
In October 2006, NovImmune raised SFr58m from BZ, private banks Pictet and Lombard Odier Darier Hentsch, Novartis Venture Fund, the corporate venturing unit of drugs company Novartis, and venture capital firm Aravis Venture.
Its first round of funding in May 2000 raised SFr15m.