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Numab Therapeutics Completes Oversubscribed CHF 100 Million Series C Financing

By: via Business Wire

Proceeds will be Used to Accelerate Advancement of Pipeline of Multispecific Antibodies in Oncology

Numab Therapeutics AG, a clinical stage biopharmaceutical company developing next-generation multispecific antibody-based immunotherapies for cancer and inflammation, today announced the closing of a CHF 100 million (approximately USD 110 million) Series C financing. The financing was co-led by new investors Novo Holdings and HBM Partners, with participation from additional new investors Forbion via its Forbion Growth Opportunities Fund, Cormorant Asset Management, BVF Partners L.P., RTW Investments L.P., funds and accounts under the management of BlackRock, Octagon Capital Advisors, and existing investors. Concurrent with the financing, Nanna Lüneborg from Novo Ventures, Matthias Fehr from HBM Partners, and Carlo Incerti from Forbion have been appointed to Numab’s Board of Directors.

Proceeds will support acceleration and expansion of the clinical development of Numab’s lead program NM21-1480 into multiple cancer indications, and the advancement of the company’s pipeline of multi-specific antibodies in oncology and inflammation, into clinical trials.

“We are thrilled to be supported by such a strong group of investors who share our vision for the company’s future,” said David Urech, Ph.D., Founder and Chief Executive Officer of Numab Therapeutics. “Combining PD-L1 blockade with tumor localized 4-1BB co-stimulation in a single molecule emerges as an attractive next-generation therapeutic strategy in solid tumors, and Numab’s lead compound NM21-1480 has best-in-class potential. The financing will help us to maximize the value of this asset by significantly expanding the clinical development program and accelerating toward phase 2 proof-of-concept.”

“We are impressed by the biological insights that went into the engineering of NM21-1480 and by the innovative pipeline that Numab has established. We believe that Numab’s Lambda-capTM and MATCHTM technologies can provide treatment options with favorable benefit-to-risk profiles,” said Matthias Fehr, Head Private Equity at HBM Partners.

“Backing companies built on clearly differentiated science in areas of major unmet medical need is at the heart of Novo Holdings' investment strategy. We are thus thrilled to co-lead Numab’s Series C financing to support the company at a pivotal stage in growth,” commented Nanna Lüneborg, Partner at Novo Ventures.

About Numab Therapeutics

Numab Therapeutics is an oncology-focused biopharmaceutical company based in Zurich-area, Switzerland. At Numab, we are writing the next chapter in cancer immunotherapy by creating multi-specific antibodies that enable the pursuit of novel therapeutic strategies. With our proprietary MATCHTM technology platform, we are fueling a new wave of multi-specific drug candidates engineered with versatility and developability in mind. Our lead product was designed to balance potent anti-tumor immunity with a desirable safety profile by targeting 4-1BB, PD-L1 and Human Serum Albumin simultaneously. We believe meeting the highest quality standards in every step of the drug design process matters and will result in better patient outcomes. For further information, visit www.numab.com.

About Novo Holdings A/S and Novo Ventures

Novo Holdings is recognized as a world-leading life science investor with a focus on creating long-term value. As a life sciences investor, Novo Holdings provides seed and venture capital to development-stage companies and takes significant ownership positions in growth and well-established companies. Novo Holdings also manages a broad portfolio of diversified financial assets. For more information: https://www.novoholdings.dk/

Novo Ventures is a global team of investment professionals that supports Novo Holdings’ investments in private and public opportunities in the life sciences industry.

For more information: https://www.novoholdings.dk/investments/ventures/; https://www.novoholdings.dk/wp-content/uploads/Novo-Ventures-2020-in-review.pdf.

About HBM Healthcare Investments

HBM Healthcare Investments invests in the healthcare sector. The Company holds and manages an international portfolio of promising companies in the human medicine, biotechnology, medical technology and diagnostics sectors and related areas. Many of these companies have their lead products already available on the market or at an advanced stage of development. The portfolio companies are closely tracked and actively guided in their strategic direction. This is what makes HBM Healthcare Investments an interesting alternative to investments in big pharma and biotechnology companies. HBM Healthcare Investments has an international shareholder base and is listed on SIX Swiss Exchange (ticker: HBMN).

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