4- Antibody AG Closes CHF 17 Million Series A Financing, Bringing the Total Series A Financing to CHF 23 Million ($ 18.5Million)
- Category: Antibodies
- Published on Tuesday, 16 January 2007 02:00
- Hits: 3444
BASEL, Switzerland | Jan 15, 2006 | Advent Venture Partners, Life Science Partners (LSP) and BioMedinvest today announced the completion of a CHF 17 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(TM) 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.
"The success of our Series A financing is a recognition of the potential of our proprietary 4mAb(TM) 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(TM) 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."
About 4-Antibody AG
4-Antibody AG is a Basel-based privately owned company, with a wholly owned subsidiary in Jena, Germany. 4-Antibody owns a novel and proprietary technology platform (4mAb(TM)) for the development and/or optimization of fully human antibodies. For more information about 4-Antibody, please visit our website at http://www.4-antibody.com.
About Advent Ventures
Advent Ventures is one of the most experienced technology venture capital firms in the UK. Established in 1981 it invests in both the Life Science and Information and Communications Technology sectors. Advent Ventures has over GBP500 million (US$ 900m) under management from institutional investors across Europe and the USA. It has backed around 60 life science companies of which, to date, 19 have obtained public listings. Recent investments by the Advent Life Sciences team include Norwegian radiopharmaceuticals company, Algeta; the US speciality pharma company, CardioKine Inc; the US medical services company NeoGuide and UK-based Thiakis which develops hormone-based treatments for obesity. For additional information please visit: www.adventventures.com
SOURCE: 4-Antibody AG