Novimmune, a Switzerland-based biotechnology company backed by logistics services provider Fracht, has closed CHF30m ($29.8m) in funding from undisclosed existing investors.
The company is working on a range of antibody-based drugs to treat cancer, inflammatory diseases and immune-related disorders. Its lead product candidates are being developed to combat acute lymphocytic leukaemia and non-Hodgkin’s lymphoma.
The round took Novimmune’s total funding to about CHF230m, its last funding coming in a $66m round in 2014 led by life sciences-focused venture capital firm Rosetta Capital.
Other existing backers include BZ Bank Aktiengesellschaft, Ingro Finanz, Patinex, Varuma, Pictet and Aravis. Pharmaceutical firm Novartis took part in a CHF58m round in 2006 but is no longer listed as an investor on Novimmune’s website.
Eduard Holdener, Novimmune’s chairman and CEO, said: “We are delighted to have completed a CHF30m funding round driven by major commitments from our lead investors that secured broad participation from our existing shareholder base.
“We remain committed to further developing novel medicines to provide improved treatment options for patients suffering from rare and devastating diseases like haemophagocytic lymphohistiocytosis, as well as autoimmune and inflammatory diseases, and cancer.”