Novimmune, a Swiss biotech company focused on the discovery and development of antibody-based drugs, today announced it has successfully completed another CHF 30 million funding round with existing shareholders.
The equity increase comes after a series of significant advances in Novimmune’s drug pipeline including important clinical milestones of its lead compound, NI-0501 for Hemophagocytic Lymphohistiocytosis (HLH), currently in phase 2/3 of clinical development. Primary HLH is a life-threatening disease of severe hyperinflammation which mainly occurs in children. On 11th March 2016, the US Food and Drug Administration (FDA) granted Breakthrough Therapy Designation to NI-0501 for the treatment of patients with primary HLH with refractory disease, or with recurrent or progressive disease during conventional therapy.
On the back of this encouraging news, existing shareholders allocated the additional financial resources required to progress the development of NI-0501 as well as other promising compounds in Novimmune’s R&D pipeline.
Novimmune Chairman and Chief Executive Officer Eduard Holdener said: “The continued strong commitment from our shareholders demonstrates the confidence they have in our team, our pipeline and the future of the Company. We remain committed to further developing novel medicines to provide improved treatment options for patients suffering from rare and devastating diseases such as HLH, autoimmune and inflammatory diseases or cancer.”
About Novimmune
Novimmune SA is a privately held, Swiss biopharmaceutical company focused on the discovery and development of antibody-based drugs for the targeted treatment of inflammatory diseases, immune-related disorders, and cancer. The company is headquartered in Geneva and currently employs 122 people.
(Press release)
Please login or sign up to comment.
Commenting guidelines