Numab Therapeutics aims to write the next chapter in cancer immunotherapy by creating multi-specific antibodies that enable the pursuit of novel therapeutic strategies. Its lead product was designed to balance potent anti-tumor immunity with a desirable safety profile by targeting 4-1BB, PD-L1 and Human Serum Albumin simultaneously. Today the company announced the closing of (approximately USD 110 million) Series C financing.
The financing was co-led by new investors Novo Holdings and HBM Partners, with participation from additional new investors Forbion via its Forbion Growth Opportunities Fund, Cormorant Asset Management, BVF Partners L.P., RTW Investments L.P., funds and accounts under the management of BlackRock, Octagon Capital Advisors, and existing investors. Concurrent with the financing, Nanna Lüneborg from Novo Ventures, Matthias Fehr from HBM Partners, and Carlo Incerti from Forbion have been appointed to Numab’s Board of Directors.
“We are thrilled to be supported by such a strong group of investors,” said David Urech, Ph.D., Founder and Chief Executive Officer of Numab Therapeutics. “Numab’s lead compound NM21-1480 has best-in-class potential. The financing will help us to maximize the value of this asset by significantly expanding the clinical development program and accelerating toward phase 2 proof-of-concept.”
“We are impressed by the biological insights that went into the engineering of NM21-1480 and by the innovative pipeline that Numab has established. We believe that Numab’s technologies can provide treatment options with favorable benefit-to-risk profiles,” said Matthias Fehr, Head Private Equity at HBM Partners.
(Press release / SK)