Novo, HBM lead CHF 100m round for Numab

Harriet Matthews
20 May 2021

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Novo Ventures and HBM Partners have led a CHF 100m series-C funding round for Switzerland-based Numab Therapeutics, a multi-specific antibodies developer.

Also participating in the round were new investors Forbion, Cormorant Asset Management, BVF Partners, RTW Investments, BlackRock and Octagon Capital Advisors.

Forbion is investing via Forbion Growth Opportunities Fund I, which held a final close in April 2021 on its €360m hard-cap, as reported. The fund focuses on late-stage, Europe-based, life sciences and biotechnology businesses, making three different types of investments: growth capital for clinical-stage development businesses; cross-over capital to companies that plan to undertake a near-term IPO; and investments in publicly listed companies that the GP regards as undervalued.

Existing investors also joined the round, the company said in a statement.

Nanna Lüneborg, partner at Novo Ventures, will join Numab's board of directors following the firm's participation in the round.

Numab intends to use the fresh capital to advance the clinical development of its lead NM21-1408 drug candidate for multiple cancer indications into clinical trials. The funding will also assist with the advancement of its pipeline of multi-specific antibodies in oncology and inflammation, according to a statement.

The round follows other large financing rounds announced by Switzerland-based biotechnology companies in 2021. Ophthalmic treatment developer Oculis announced a $57m funding round earlier in May 2021, while insulin patch developer CeQur raised a $115m round in April, marking the second largest healthcare growth round of 2021 in the DACH region.

Previous funding
Investors including 3SBio (a subsidiary of Sunshine Guojian), Mitsubishi UFJ Capital and Eisai provided CHF 22m in a series-B funding round for Numab in March 2020. Numab board member Daniel Vasella, the former CEO of Novartis, also participated in the round.

Company
Founded in 2011 and headquartered in Wädenswil, near Zurich, Numab is a biotechnology company in the field of immunotherapy. The company develops treatments via the creation of multi-specific antibodies, focusing on oncology, using its Match technology platform. Its lead product combines 4-1BB, PD-L1 and human serum albumin antibodies.

People
Novo Ventures – Nanna Lüneborg (partner).
Numab Therapeutics – David Urech (founder, CEO).