Novo Ventures leads CHF 20m round for NBE Therapeutics

PPF Capital Partners Fund and Boehringer Ingelheim Venture Fund (BIVF) also took part alongside private investors.

PPF and BIVF invested in the first tranche of the series-B, which was closed on CHF 20m in November 2016. The additional financing doubles the total volume of the round to CHF 40m.

The fresh capital will be used to advance the lead programme for the treatment of solid tumours into the clinical stage, as well as supporting other programmes at earlier stages of development.

Novo Holdings has become a major shareholder in the business and venture partner Nanna Lüneborg has joined the board of directors.

Previous funding
BIVF backed a CHF 3m series-A funding round for NBE in March 2015.

Company
NBE is a Swiss biotechnology company developing therapies for cancer patients. It works on antibody-drug conjugates to improve cancer therapy. Its lead programme, NBE-002, is entering clinical development, and is used for the treatment of solid tumours. The company was founded in 2012 and is headquartered in Basel.

People
NBE Therapeutics – Ulf Grawunder (CEO).

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• Topics
• Early-stage
• DACH
• Healthcare
• Switzerland
• Venture