CHF 50 Million extension round co-led by Cormorant Asset Management,
with participation from other existing investors
Proceeds will be used to support the advancement of multiple first-in-class and best-in-class programs into clinical development
HORGEN, Switzerland, Jan. 09, 2025 (GLOBE NEWSWIRE) -- Numab Therapeutics AG ("Numab”), a clinical stage biotechnology company advancing a proprietary pipeline of multi-specific antibodies in immunology and oncology, announced today the closing of an oversubscribed CHF 50 million (approximately USD 55 million) Series C extension, bringing the total Series C to CHF 180 million. The financing was co-led by Cormorant Asset Management, Forbion via its Forbion Growth Opportunities Fund, HBM Healthcare Investment, and Novo Holdings, with participation from other existing investors BVF Partners L.P., Octagon Capital Advisors LP, RTW Investments, and funds and accounts managed by BlackRock.
"We believe that Numab's modular platform and engineering expertise in designing multi-specific antibodies with predictable stability, yield, and good CMC characteristics have significant advantages. We also believe multi-specific antibodies have the advantage of more efficient clinical trial design. We are excited to continue to support the team as they identify and pursue the best rational biological combinations for their platform”, said Bihua Chen, Founder and CEO of Cormorant Asset Management.
"Throughout 2024, we made tremendous progress with our pipeline and business development efforts, including the acquisition of Numab's spin-out Yellow Jersey Therapeutics by Johnson & Johnson for $1.25 billion”, said David Urech, Ph.D., Founder and Chief Executive Officer of Numab Therapeutics. "We are delighted to start the year by strengthening our financial position with the support of this strong group of investors who share our vision and conviction in the strength of Numab's unique λ-CapTM and MATCHTM technology platforms and our regional partnering strategy that allows us to de-risk development of our proprietary pipeline.”
Proceeds from the financing will be used to accelerate and further advance Numab's pipeline of clinical and pre-clinical best-in-class and first-in-class multi-specific antibodies in inflammation and oncology.
About Numab Therapeutics AG
Numab Therapeutics AG is a clinical-stage company developing multi-specific antibody-based immunotherapies for inflammation and cancer. Reproducible plug-and-play therapeutic design process using proprietary platforms λ-CapTM and MATCHTM puts Numab in a unique position to overcome historical drug discovery barriers and build a pipeline of new and important medicines aimed to maximize patient benefits. Numab's diverse research pipeline spans multiple therapeutic areas and creates the opportunity for the next generation of first-in-class and best-in-class medicines. Our lead asset, NM32, a first-in-class half-life-enhanced T-cell engager targeting ROR1, a tumor associated antigen with broad expression in solid tumors and hematological malignancies, is currently in Phase 1 trial in patients with solid tumors. Numab's partnerships with multiple leading pharma companies continue to validate the robust proprietary platform and development capabilities. For further information, visit https://www.numab.com.
For further details, please contact:
Numab Therapeutics
David Urech
Chief Executive Officer
Investor Contact:
Patrick Till
Meru Advisors
