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October 1, 2009

Google’s VC Arm Leads Undisclosed Amount in Investment in Series D Funding for Adimab

Filed under: Venture Capital News — admin @ 4:26 am

Based in Lebanon, New Hampshire, a leader in immune system and human antibody research, Adimab announced today that it has closed an undisclosed amount in series D funding with Google Ventures leading the funding round. Other investors who are participating in this round of funding include the company’s existing investors, Polaris Ventures, SV Life Science, OrbiMed Advisors, and Borealis Ventures.

Adimab is a leader in human antibody research tools. Its platform, which is an integrated antibody discovery and optimization platform that allows for scientists to be able to research everything from antigens to purified human IgGs. Adimab provides scientists and medical researchers the basic advantages by bringing to attention different panels of therapeutically relevant antibodies that can be used in treating a wide array of different diseases. According to Adimab’s corporate website, up to now, there are several different methods to approach and discover human antibodies. The thing that all three of these approaches have in common is that they all need a specific host to work. Some of these hosts include mice, E. Coli, CHO, and NSO. Furthermore, all these approaches require several different reformatting steps that can cause the quality and the accuracy of the discoveries to deteriorate. Adimab’s website goes on further to say that the company has taken extra steps to improve the discovery of human antibodies. The company site goes on to state that Adimab’s approach works by accomplishing a full integration of all the aspects of antibody discovery, ranging from library design and manufacturing. Furthermore, Adimab also stresses the importance of developing screening and presentation technologies which can search all relevant aspects of antibody quality and function. The corporate site also explains more of the unique platform that Adimab offers.

According to Bill Maris, Managing Partner of Google Ventures, vanguard technologies in the life sciences industry can be computationally intensive. Furthermore, Google Ventures will continue to back Adimab and its revolutionary technology in human antibody discovery technology. Google will also back Adimab’s bid to become the world leader in human antibody discovery and research. Mr. Maris further added that he believes that the technology that Adimab’s technology is definitely revolutionary and is happy that Google Ventures will join the company’s existing investors in backing this company.

According to Adimab’s CEO, Errik Anderson; the company has been looking at several investment propositions and finally came to the decision that Google Ventures was the best investor to complete this round of funding. The people at Google Ventures understood the value that Adimab has placed in its human antibody discovery platform. Furthermore, this prolific discovery platform can have an even greater effect when incorporated with computational tools.

Google Ventures is the vc arm of Google, one of the world’s largest search engine companies. The sole mission of Google Ventures is to seek and find new companies and help them grow into large global corporations. Though Google itself is an internet company, its vc arm, Google Ventures invests in a broad range of industries which include consumer internet, software, hardware, life sciences, clean tech, bio tech, and healthcare. Google believes in helping companies grow from the entrepreneur’s garage or basement to a major corporation with a multinational presence. Google Ventures invests in all stages of a company’s life from seed all the way to mezzanine funding.

For more information about Adimab, click here.

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