NBE-Therapeutics Secures $22 Million Series C Financing to Advance Next-Generation ADC Platform

VCBeat (WeChat ID: vcbeat) learned from foreign media that on January 10, 2020, biotechnology company NBE-Therapeutics completed a $22 million Series C financing round. The round was led by existing shareholders Boehringer Ingelheim Venture Fund and PPF Group, with participation from all private shareholders.

NBE-Therapeutics is a biotechnology company headquartered in Basel, Switzerland. NBE-Therapeutics is dedicated to developing best-in-class oncology therapies to improve survival rates and quality of life for cancer patients worldwide. Leveraging innovative technologies, NBE-Therapeutics has established a next-generation antibody-drug conjugate (ADC) platform targeting solid tumors, with the aim of developing novel ADC agents that can reduce or even eradicate tumors through sustained anti-tumor immune effects. ADCs consist of recombinant antibodies, cytotoxic drugs, and linkers. The development of such agents involves target screening, recombinant antibody production, linker technology development, and optimization of highly cytotoxic compounds.

It is reported that since its establishment in 2012, NBE-Therapeutics has raised a total of $65.7 million, having completed four previous rounds of financing in 2013, 2015, 2016, and 2018, respectively. The proceeds from this round will be used to advance early-stage clinical trials of NBE-002 for the treatment of solid tumors, strengthen the NBE-Therapeutics team, and accelerate the development of next-generation antibody-drug conjugates (ADCs), with the aim of pioneering best-in-class cancer therapies.

NBE’s competitive advantage lies in its proprietary patented technologies, which cover nearly every aspect of ADC drug development. Its SMAC-conjugation technology, Transpo-mAb technology, and novel potent anthracycline toxin platform provide a robust technical foundation for developing first-in-class and best-in-class ADC candidates targeting cancer indications.

NBE-Therapeutics is developing next-generation immune-stimulating antibody-drug conjugate (iADC™) products. NBE is advancing its products into the proof-of-concept clinical stage. NBE-Therapeutics’ next-generation antibody-drug conjugates incorporate highly potent derivatives of the anthracycline toxin PNU-159682, which are site-specifically conjugated to antibodies via NBE’s proprietary SMAC-Technology™.

Ulf Grawunder, CEO and Founder of NBE-Therapeutics, stated, “This financing will enable NBE-Therapeutics to further advance NBE-002 into the clinical stage, creating more valuable therapeutic options for cancer patients. NBE-Therapeutics highly values the current shareholders’ trust in its technology platform and iADC program, through which the company is able to develop highly effective oncology treatments.”

Jens Hennecke, a member of the Board of Directors of NBE Therapeutics and representative of PPF Group, stated: “NBE Therapeutics has made solid progress over the past few years and is now entering the next phase as a leading clinical-stage ADC drug development company.”

Boehringer Ingelheim Venture Fund (BIVF) was established in 2010 and is headquartered in Germany. It primarily invests in biotechnology companies focused on pioneering therapies to drive innovation in biomedical research. BIVF is building long-term partnerships with scientists and entrepreneurs, seeking significant improvements in patient care. BIVF manages €250 million in funds and has a portfolio of more than 25 companies.

PPF Group, founded in 1991 and headquartered in the Netherlands, invests across multiple market sectors in Europe, Russia, the United States, and Asia, including banking, financial services, telecommunications, biotechnology, real estate, insurance, and agriculture.

(Compiled by: Chang Jia)