AMAL Therapeutics raises €8 million (CHF 8.8 million) in first closing of Series B financing round
2017-09-05 / AMAL Therapeutics (AMAL), the Swiss biotech developing novel, peptide-based therapeutic cancer vaccines, today announces that it has completed the first tranche of its Series B financing round, raising €8 million (CHF 8.8 million). The Company will use the funds to progress its lead vaccine (ATP128) towards clinical studies and proof-of-concept in colorectal cancer. It will also further develop its proprietary therapeutic tumour vaccination technology platform called KISIMA.
Boehringer Ingelheim Venture Fund (BIVF), BioMedPartners and Helsinn Investment Fund are cornerstone investors, with VI Partners, High-Tech Gründerfonds and Schroder Adveq also participating. AMAL is Schroder Adveq’s first investment in Life Sciences in Switzerland. It is also Helsinn’s first ever investment in Switzerland.
AMAL’s KISIMA technology demonstrated potent and multi-antigenic long lasting anti-tumour immunity and prevented tumour immune escape in pre-clinical models. This promising preclinical efficacy is achieved through the combination of a Cell Penetrating Peptide (CPP) with a multiantigenic chimeric cargo and a toll-like receptor agonist in one recombinant protein.
Dr Hanna Kleczkowska from Helsinn Investment Fund and Dr Andreas Wallnöfer from BioMedPartners become members of AMAL’s Supervisory Board. Dr Erwin Boos from Schroder Adveq join the Board as Board Observer.
Dr Madiha Derouazi, CEO and founder of AMAL Therapeutics said:
“The potential of our KISIMA technology platform and value of our scientific assets has been validated by this Series B investment by prestigious investors. We are now in a position to progress our lead vaccine, ATP128, for colorectal cancer into the clinic and continue to develop our pipeline in
other cancer indications.”
Dr Knut Elbers, Boehringer Ingelheim Venture Fund representative on AMAL’s Board added:
“We believe that AMAL’s KISIMA technology could revolutionise the peptide-based cancer vaccine field – bringing an innovative new technology to the patient, this is why we invested as seed investor in the company. We believe AMAL is an innovator in the field of immunotherapies and we look forward to working with Madiha and the team to help the Company grow.”
Dr. Andreas Wallnöfer, BioMedPartners representative on AMAL’s Board stated:
“AMAL Therapeutics next generation vaccines have the potential to convert and combat tumours that
have so far not been accessible to the immune system. The technology could also enhance the efficacy of immuno-oncology therapies, such as checkpoint inhibitors and unravel the full potential of therapeutic cancer vaccines for patients in need. This is an enormous motivation for us to engage.”
Riccardo Braglia, Helsinn Group Vice Chairman and CEO, commented:
“AMAL Therapeutics is a highly innovative company with great leadership, and its novel KISIMA cancer vaccine technology platform that targets and kills tumorous cells has the potential to bring significant benefit to people with cancer. AMAL is exactly the type of Company that Helsinn Investment Fund looks to support and we look forward to working with them to help support their clinical progress.”
About AMAL Therapeutics SA
AMAL Therapeutics SA is a privately held Swiss biotech start-up company, having spun-out from the University of Geneva. AMAL Therapeutics was incorporated in September 2012. AMAL uses KISIMA, its proprietary vaccine technology platform to develop and progress therapeutic vaccines in
AMAL Therapeutics SA
Dr. Madiha Derouazi
Chief Executive Officer
Tel.: +41 (0) 22 379 46 88
Instinctif Partners (PR agency for AMAL Therapeutics)
Alex Shaw / Dr Christelle Kerouedan
Tel.: +44 (0) 207 457 2020
About the Helsinn Group and the Helsinn Investment Fund
Helsinn is a privately owned pharmaceutical group with an extensive portfolio of marketed cancer care products and a robust drug development pipeline. Since 1976, Helsinn has been improving the everyday lives of patients, guided by core family values of respect, integrity and quality. The Group works across pharmaceuticals, biotechnology, medical devices and nutritional supplements and has expertise in research, development, manufacture and the commercialization of therapeutic and supportive care products for cancer, pain and inflammation and gastroenterology. The company is headquartered in Lugano, Switzerland, with operating subsidiaries in Switzerland, Ireland and the U.S., a representative office in China as well as a product presence in approximately 190 countries
globally. In 2016, Helsinn created the Helsinn Investment Fund to support early-stage investment opportunities in areas of unmet patient need. The Helsinn Investment Fund aims to help companies with innovative technologies in a range of areas including cancer therapeutics and diagnostics, cancer supportive care, metabolic and gastrointestinal disorders, and dermatology conditions, to transform new ideas into commercial solutions with the potential to impact health-related quality of
life of patients.
Helsinn Group Media Contact:
Group Head of Communication
Tel: +41 (0)91 985 21 21
About Schroder Adveq
Founded in 1997, Schroder Adveq is a leading asset manager investing in private equity globally and
following completion of the acquisition is a wholly owned subsidiary of Schroders plc. It offers
specialised investment solutions which allow the firm’s clients to access select private market segments through primary, secondary and direct/co-investments. Schroder Adveq’s client base comprises institutional investors such as pension funds, insurance companies, family offices and other financial institutions located in Europe, North America and the Asia-Pacific region. Many investors of Schroder Adveq are repeat, long-term clients with whom the firm has developed a role as a trusted partner for private market investing. Schroder Adveq has offices in Zurich, Frankfurt, London, Jersey, New York, Beijing, and Hong Kong. Further information about Schroder Adveq can be found at www.schroderadveq.com
About VI Partners
VI Partners is a leading Swiss venture capital firm that invests in university spin-offs as well as in promising companies in the healthcare and ICT sectors. Over the last decade, more than 30 successful investments were made in Switzerland and surrounding regions to develop promising technology-based ideas for products and services into successful businesses. VI Partners team combines seasoned investment professionals and a worldwide recognized network of experts from
the industry, financial and consulting sectors.
About High-Tech Gruenderfonds
High-Tech Gründerfonds (HTGF) is Germany’s most active seed stage investor. With about EUR 820 million under management in three funds, it provide financing for technology-driven companies active in a wide range of fields, including robotics, IoT and energy, Medtech and Biotech, chemicals and software. Investors in this public-private partnership include the German Federal Ministry of Economics and Energy, the KfW, and strategic corporate investors.
High-Tech Gründerfonds Management GmbH
Dr. Frank Hensel
Tel: +49 (228) 823 001-00
Fax: +49 (228) 823 000-50
source: High-Tech Gründerfonds Management GmbH