NBE Therapeutics develops next-generation Antibody Drug Conjugates (ADC) products. Unlike chemotherapy, these only target cancerous cells, thus improving the potential outcome for cancer patients. With the successful closing of its latest financing round, NBE Therapeutics now plans to advance the lead product of its ADC pipeline to the end of phase I/II clinical trials, according to a company statement.
The Dutch financing group PPF led the latest financing round with participation from the investment division of the German pharmaceutical company Boehringer Ingelheim (BI), all other existing private investors and a new private investor.
NBE Therapeutics CEO Ulf Grawunder is pleased with the support in the existing Series B round, calling it a “strong endorsement of our ADC platform, our team and our strategy”.
Jens Hennecke, Chief Business Officer at the international biopharmaceutical company SOTIO, which is a member of PPF Group, has joined the NBE Therapeutics board of directors. He believes that the next-generation ADC platform provides the basis for novel cancer therapies.
Frank Kalkbrenner from BI Venture Fund sees the successful financing round as a key step in the further growth of NBE Therapeutics. jh