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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 biogr
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