Rosetta leads CHF 60m round for Novimmune

Ellie Pullen
18 February 2014

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Life sciences-focused Rosetta Capital has led a CHF 60m ($66m) series-B funding round for Swiss biotech Novimmune.

The round saw existing investors and new private investors contribute capital alongside Rosetta. According to unquote" data, the company has been backed by Akina Partners, Novartis Venture Fund, Pictet Private Equity, Aravis Venture and Swiss banking group BZ Bank.

The fresh capital will be used to further develop the company's three primary products, including the two clinical-stage drug candidates NI-0501 - which is being developed for an unnamed life-threatening disease - and NI-0101, an anti-toll-like receptor 4 (TLR4) antibody.

Novimmune is also developing its drug platform for bispecific kappa-lambda (Κλ) bodies, which the company is applying towards oncology practices.

Rosetta is a London-based venture capital firm focused on the life sciences and medical technology sectors. The firm invests in both Europe and the US with a European focus on Germany, Switzerland and Denmark. Its portfolio includes Copenhagen-based Forward Pharma, Zug-based AditechPharma and Ireland-based Osteologix.

Previous funding
According to unquote" data, the company's €15m series-A round took place in 2000, with Novartis and Aravis investing alongside Akina.

In November 2006, Novimmune secured a further €37m from Novartis, Akina, Aravis, Pictet and BZ Bank. This was followed in May 2009 by an additional CHF 62.5m being injected into the company, in a round led by BZ Bank with participation from existing investors and new private investors.

In December 2010, the company raised CHF 20m in another round led by BZ Bank.

Company
Founded in 1988 and headquartered in Geneva, Novimmune is developing several drug candidates and technology platforms for the discovery of therapeutic antibodies, which are being designed for use in the treatment of inflammatory diseases and immune-related disorders.

The company's Κλ bodies are being developed to inhibit CD47 (a protein involved in immune responses in the body) on cancer cells.

The company employs more than 80 staff and has not yet commercialised its products.

People
Jack Barbut is the CEO of Novimmune. Rosetta partner and co-founder Jonathan Hepple joined the company's board of directors following the funding round.