Third-round funding
Ganymed Pharmaceuticals AG, a private cancer antibody company closed a third round funding of €33.7 million in a oversubscribed round led by VI Partners, a Swiss based venture capital firm, and underwritten by Future Capital, Ingro Finanz, Landesbank Baden-Württemberg, MIG, Nextech Venture, ONC Partners, Varuma and a consortium of mainly Swiss private investors.
The new funds will be used for further development of Ganymed’s lead candidate, GC182, a so-called ideal antibody, or iMAB, through phase I/IIa clinical testing in gastric cancer. A second antibody, GT468, will be moved into Pphase I/IIa in an (unspecified) major cancer indication, and the company will expand and develop its pipeline of, cancer-specific targets and antibodies also.
Dr Rainer Wessel, CEO, said the money “will enable us to make the transition into a clinical stage company by mid-2008, which will also substantially increase the value for our investors and partners”,
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