Danish investor Novo Holdings is investing 20 million Swiss francs in NBE Therapeutics in a series B financing round. The Basel-based biotechnology company develops novel cancer treatments and intends to now advance these to early development.
NBE Therapeutics has closed a 20 million Swiss franc series B extension finding round. Together with an earlier 20 million franc series B financing round led by other investors, this brings the total series B financing of NBE Therapeutics to 40 million francs.
Major shareholder of NBE Therapeutics
With its investment, Novo Holdings, a Danish life sciences investor, now becomes a major shareholder of NBE Therapeutics. Nanna Lüneborg, a partner at Novo Holdings, has joined the Board of Directors of NBE Therapeutics. Other shareholders of the Basel-based biotechnology company include the Dutch financial group PPF and the investment division of the German pharmaceutical Boehringer Ingelheim.
NBE Therapeutics develops next-generation Antibody Drug Conjugates (ADC) products. Unlike chemotherapy, these only target cancerous cells, thus improving the potential outcome for cancer patients. With the successful closing of its latest financing rounds, NBE Therapeutics now plans to advance its lead products to clinical trials.
Read the report from their first Series B financing round.