The Zurich based Numab Therapeutics has concluded its Series B financing round to broaden its pipeline and accelerate the development of its lead program. Alongside Numab's existing shareholders, renowned investors including Mitsubishi UFJ Capital, 3SBio/Sunshine Guojia and Eisai as well as and the new board member Daniel Vasella contributed to the round.
Numab Therapeutics is an oncology-focused biopharmaceutical company developing a pipeline of multi-specific biotherapeutics in immuno-oncology and immunology for the treatment of severe diseases. With the new funds raised in a Series B round, Numab will expand its proprietary pipeline of differentiated multispecific therapeutics for cancer. The funds will also support the advancement of the lead oncology program ND021, which is poised to enter clinical testing in summer 2020.
New investors in the round included Mitsubishi UFJ Capital Co., Ltd., one of Asia’s leading venture capital firm focusing on life science, information and communications technology and high technology investments. The second investor Eisai Co., Ltd, entered into a global research and option agreement with Numab to discover and develop a portfolio of multi-specific antibody immunotherapies for cancer in October 2019. In December 2019, Numab added a regional alliance with 3SBio’s subsidiary Sunshine Guojian Pharmaceutical Co., Ltd. to its growing roster of pharmaceutical partnerships. Alongside the three investors, Numab’s new board member Daniel Vasella and existing shareholders also contributed to the financing round.
“We are very pleased to have attracted a renowned institutional investor in Mitsubishi UFJ Capital to the Numab story and likewise appreciate the additional display of confidence in our platform and pipeline strategy by our partners as well as existing Series A investors and our board member Daniel Vasella,” commented David Urech, Chief Executive Officer of Numab Therapeutics.
(Press release/ran)
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