VIENNA, Austria, November 28 /PRNewswire/ -- f-star, an antibody engineering company developing novel antibodies and antibody fragments based on its unique Modular Antibody Technology, today announced that it has raised EUR 3.0 million from Novo A/S in a Second Closing of its Series A financing round, originally co-led by Aescap Venture and Atlas Venture. After this Second Closing, the amount raised in the Series A round increases to EUR 9.0 million. In total, the Company has raised EUR 13.0 million since inception in 2006.
With more than EUR 7 billion under management in total, Novo A/S manages the assets of the Danish Novo Nordisk Foundation and is the holding company of the Novo Group. Novo A/S is recognized as a significant force in life science venture capital with operations in Copenhagen, London and San Francisco, annual investments of approximately EUR 70 million and a worldwide portfolio of 40+ life science portfolio companies.
"We are excited to welcome Novo A/S as a new shareholder in f-star", Gottfried Himmler, CEO, commented on the financing. "It is a significant boost to our long term objective of building f-star to become a major player in the next generation antibody field. With its evergreen structure and its unparalleled financial muscle, Novo A/S is the ideal shareholder for us to build a company to last."
Commenting on the transaction, Kim Dueholm, a partner in Novo A/S said: "We are very excited to join f-star as a new shareholder. f-star has managed to build a strong intellectual property position in the exciting field of novel antibody scaffolds. This strong proprietary position, the unique properties of f-star's proprietary scaffold (Fcab(TM)), the outstanding know-how and experience of the management team and the strength of f-star's investor base make f-star a perfect addition to Novo's portfolio. " Kim is responsible for the f-star investment at Novo A/S and will join f-star's Board.
Combined with existin
|SOURCE f-star Biotechnologische Forschungs- und Entwicklungs-GmbH|
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