NovImmune raises CHF 62.5M as it takes back rights from MerckSerono

Reacquisition

NovImmune, an immunology specialist focusing on antibodies, has raised CHF 62.5 million ($54.8 million) to take back control of its lead compounds, NI-0401 and NI-0501, fully human monoclonal antibodies 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, “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.” MerckSerono is offloading the products following a review of its pipeline.

At the same time the Geneva-based company has announced that it is sprucing up the management team with the appointment Penelope Ward, as Chief Medical Officer, Luca Bolliger, as Head of Business Development, and Olivia Maurel, as Head of Regulatory Affairs. Ward was previously global Head of Rheumatology at Roche, Bolliger was Director of Business Development at Swiss biotech Actelion and Maurel was Head of the European Regulatory Affairs group for immunology compounds at Centocor.   

NovImmune originally out-licensed the antibodies in 2005 in a deal with a $120 million headline value.