Switzerland: ESBATech raises €14M for antibody fragment technology

EsbaTech, spun out from the University of Zürich in 1998, has raised €14 M, to further develop their proprietary antibody fragment therapeutics, an example of which is the single-chain antibody against TNF-alpha, ESBA105, used to treat ophthalmic and inflammatory disorders. The syndicate of investors includes return backers SV Life Sciences, Clarus Ventures, HBM BioVentures, HBM BioCapital, Novartis Bioventures, BioMedinvest and VI Partners.

A previous round of financing worth €31 M, in 2006, enabled the evaluation of the safety, tolerability and pharmacokinetic profile of ESBA105 applied topically in the form of eye drops to healthy volunteers in a Phase I clinical trial. The recent funds will further this evaluation and advance the development of other candidate antibody fragments such as ESBA903, directed against vascular endothelial growth factor (VEGF).

Dominik Escher, CEO of ESBATech, said: "We are delighted to announce the expansion of our proprietary pipeline with this additional financing. This includes building broad franchises in ophthalmology, rheumatology and respiratory diseases for ESBA105 and additional antibody fragments. We have advanced our anti-VEGF program to selection of a development candidate, ESBA903, a single-chain antibody that shows very high potency, stability and solubility, and will be developed for ophthalmic indications.”

Martin Gertsch, of ESBATech, said: "To date, with this additional capital increase, the company has raised over €54 million for the development of its antibody fragment platform as well for the advancement of product candidates into the clinic. With one ongoing Phase I clinical study, an additional clinical trial pending commencement, and additional programs in and nearing formal preclinical development, this is a time of growth for ESBATech.”

Graham Boulnois, of SV Life Sciences, said: "We are delighted with the progress of ESBATech to date. The company's human antibody fragment platform has delivered a growing pipeline of commercially attractive new drugs based on stable antibody fragments derived from fully human scaffolds. This is an exciting area and provides the company with high value opportunities for partnering across multiple therapeutic areas."

Michael Steinmetz, of Clarus Ventures, said: "ESBATech's unique approach to antibody fragments derived from fully human scaffolds position them well in this highly exciting growth market. We look forward to further clinical development of the company's product pipeline and additional value generation."