4-Antibody Completes $18.5 Million Series A Financing
Advent Venture Partners, Life Science Partners (LSP) and BioMedinvest recently announced the completion of a $13.6 Million Series A financing of 4-Antibody AG.
This closing was led by new investor Advent Venture Partners (UK), together with existing lead investors Life Sciences Partners (LSP, The Netherlands) and BioMedinvest AG (Switzerland). All other existing investors, Grazia Equity (Germany), Mulligan Biocapital (Germany) and several private investors also participated.
4-Antibody AG is focused on exploiting its 4mAb™ proprietary platform to improve existing antibodies and to discover de- novo fully human antibodies. Proceeds will be used to accelerate the discovery and development of novel therapeutic monoclonal antibodies.
4-Antibody, a Basel-based biotechnology company focused on exploiting its proprietary platform to develop de novo and improved fully human antibodies, received the first part of the Series A financing in August last year and the appointment of Sijmen de Vries MD, MBA as its new CEO.
The Series A financing was provided by a consortium of existing investors including Biomedinvest AG (CH), Grazia Equity (D), Life Science Partners (NL) and Mulligan Biocapital (D). Proceeds will be used to develop internal pipeline projects initially to pre- clinical proof of concept and establish licensing partnerships with biotech and pharma partners.
Advent Venture Partners, Life Science Partners (LSP) and BioMedinvest added to the Series A financing $13.6 Million. This closing was led by new investor Advent Venture Partners (UK), together with existing lead investors Life Sciences Partners (LSP, The Netherlands) and BioMedinvest AG (Switzerland). All other existing investors; Grazia Equity (Germany), Mulligan Biocapital (Germany) and several private investors also participated.
Sijmen de Vries joins 4-Antibody from Morphochem AG (Munich, Germany), where he was CEO and, after successfully re-focusing the business on antibiotic development and steering its lead hospital antibiotic through pre-clinical development, he merged the company with Biovertis AG. Previous to that, he held various senior management positions at Novartis Pharma AG and SmithKline Beecham. Dr de Vries succeeds Dr Ulf Grawunder, who as co-founder of the company successfully led the company through its initial growth phases and continues to serve the company as its CSO.
“The success of our Series A financing is a recognition of the potential of our proprietary 4mAb™ platform to generate novel fully human antibodies against a broad range of disease targets. We are very pleased to be able to attract Advent Venture Partners, a top tier Life Sciences investor, complementing our existing investor syndicate. We are now well positioned to build on our product pipeline and to accelerate our fast follower monoclonal antibody programs” said Sijmen de Vries, CEO of 4-Antibody AG.
Raj Parekh, General Partner at Advent Venture Partners commented: “The 4mAb™ technology has the potential to become an industry standard to increase the potency and specificity of human monoclonal antibodies designed for therapeutic use. We are very pleased to support the company.”
For more information, please visit: www.4-antibody.com