Navigation Links
NovImmune Completes CHF 62.5 (USD 54.8) Million Equity Financing to Move Portfolio Forward and Reacquire Product Rights to Lead Antibodies
Date:5/11/2009

PLAN-LES-OUATES, Switzerland, May 12 /PRNewswire/ -- NovImmune, an immunology-focused biotech company dedicated to the development of therapeutic monoclonal antibodies, announced today that it has raised CHF 62.5 million (USD 54.8 million) to take back control of its lead compounds (NI-0401 and NI-0501, a fully human monoclonal antibody to CD3 and interferon-gamma, respectively) and for further development of its pipeline. The transaction was led by BZ Bank Aktiengesellschaft.

Jack Barbut, CEO of NovImmune, said: "The Company has made great progress and remains strictly focused on achieving its goals to progress NovImmune's rich pipeline. We are proud to complete this transaction which allows us to continue to execute our long term business plan. With the current financing, NovImmune now has regained full control of two of its lead compounds from MerckSerono and is looking forward to moving ahead with the seven products in its portfolio."

Eduard E. Holdener, MD, Chairman of the Board of Directors, said "This substantial capital increase allows NovImmune to progress its projects along the value chain while preparing the company for important strategic partnerships that might involve one or multiple compounds of its portfolio".

Key appointments to the executive management team

NovImmune extended its executive management team by appointing Penelope Ward, MD, as Chief Medical Officer, Luca Bolliger, PhD, as Head of Business Development, and Olivia Maurel, PharmD, as Head of Regulatory Affairs. Penelope joined from F.Hoffmann-La Roche AG where she was global Head of Rheumatology and local Head of Clinical Development in the Global Development Center, Welwyn Garden City, UK. Before NovImmune, Luca was Director of Business Development at Actelion. Olivia joined from Centocor (J&J), where she was Head of the European Regulatory Affairs group for immunology compounds. Complete biographies can be found at: http://www.novimmune.com.

NovImmune SA

NovImmune SA ('NovImmune') is a drug discovery and development company with a focus on therapeutic mAbs for inflammatory diseases and immune-related disorders.

NovImmune has generated, to date, seven proprietary mAbs. The pipeline is a balance of preclinical and clinical compounds, with a mix of both clinically validated as well as novel targets. Each of these portfolio products has the potential to become a medicine for multiple medical conditions due to the overlapping mechanism of action under laying these types of diseases.

Two compounds are in clinical development, with the most advanced in clinical phase II. The lead product, NI-0401/anti-CD3, is currently being tested in Crohn's disease, type 1 diabetes and transplantation.

The company was established in 1999 and has currently 70 employees basedin Plan-les-Ouates/Geneva, Switzerland.

For more information please visit our website: http://www.novimmune.com.


'/>"/>
SOURCE NovImmune
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. H2Diesel Completes 3 Million Gallon Per Year Pilot Facility
2. AEterna Zentaris completes management team with the appointment of Chief Medical Officer
3. Vion Pharmaceuticals Completes Accrual of 85 Patients to its Pivotal Phase II Trial of Cloretazine(R) (VNP40101M) in Elderly AML
4. Carrington Completes $8 Million Financing
5. Proteon Therapeutics Completes $12 Million Financing and Hires CFO
6. New Brunswick Scientific Completes Merger Transaction with Eppendorf
7. Kiwa Bio-Tech Completes 1st Stage of Shandong Factory Upgrading
8. PAREXEL International Completes Acquisition of APEX International Clinical Research Co., Ltd.
9. Optherion, Inc. Completes $37 Million Start Up Financing
10. Companys Partner Completes Trial Production of a New Antiviral Medicine
11. American Oriental Bioengineering Completes Acquisition of Guangxi Boke Pharmaceutical Company Ltd.
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/2/2016)... 2016 CytRx Corporation (NASDAQ: CYTR ... oncology, today announced the appointment of Earl Warren ... and private healthcare investor, to its Board of Directors. ... clinical and strategic experience at the highest level," said ... "As one of the world,s leading orthopedic surgeons, Dr. ...
(Date:12/2/2016)... NC (PRWEB) , ... December 01, 2016 , ... ... US Computational Science Symposium (CSS) and the popularity of US Single Day Events ... take place in early Summer 2018, in Raleigh, NC. Topics of the pharmaceutical ...
(Date:12/2/2016)... Boston, MA (PRWEB) , ... December 02, 2016 , ... ... of Light Event on December 3rd, 2016. The event, which is held on ... NTI’s work with helping Americans with Disabilities back into the workplace. Suitable Technologies is ...
(Date:11/30/2016)... CLEVELAND , Nov. 30, 2016  GenomOncology today announced ... Vice President of Medical Affairs.  Dr. Coleman ... enhancing the company,s proprietary knowledge-enabled platform. The GenomOncology software suite ... of genetic sequencing data and clinical decision support, from quality ... , ...
Breaking Biology Technology:
(Date:11/29/2016)... -- Nearly one billion matches per second with DERMALOG,s high-speed ... ... DERMALOG is Germany's largest Multi-Biometric supplier: ... (PRNewsFoto/DERMALOG Identification Systems) ... is Germany's largest Multi-Biometric supplier: The company's Fingerprint Identification System is part ...
(Date:11/21/2016)... 21, 2016   Neurotechnology , a provider ... today announced that the MegaMatcher On Card fingerprint ... for the NIST Minutiae Interoperability Exchange (MINEX) ... mandatory steps of the evaluation protocol. ... test of fingerprint templates used to establish compliance ...
(Date:11/15/2016)... 2016  Synthetic Biologics, Inc. (NYSE MKT: SYN), ... the gut microbiome, today announced the pricing of ... its common stock and warrants to purchase 50,000,000 ... to the public of $1.00 per share and ... the offering, excluding the proceeds, if any from ...
Breaking Biology News(10 mins):