By E. Janene Geiss
Philadelphia, Aug. 21 - 4-Antibody AG said Monday that it closed a CHF 6 million series A financing round and appointed Sijmen de Vries as its new chief executive officer.
A consortium of existing investors, including Biomedinvest AG, Grazia Equity, Life Science Partners and Mulligan Biocapital, participated in the financing round.
Proceeds will be used to develop internal pipeline projects initially to preclinical proof-of-concept and establish licensing partnerships with biotech and pharma partners, the company said in a news release.
De Vries joins 4-Antibody from Morphochem AG of Munich, Germany, where he was chief executive officer and, after successfully refocusing the business on antibiotic development and steering its lead hospital antibiotic through preclinical development, he merged the company with Biovertis AG. He has held various senior management positions at Novartis Pharma AG and SmithKline Beecham.
De Vries succeeds Ulf Grawunder, a co-founder of the company who continues to serve as its chief scientific officer.
"Over the last year and a half the 4-Antibody technology platform matured to deliver its first exciting results on improving an existing antibody," Max Burger, chairman of 4-Antibody, said in the release.
4-Antibody is a Basel, Switzerland, biotechnology company with a novel and proprietary technology platform for the development of fully human antibodies.
| Issuer: | 4-Antibody AG
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| Issue: | Series A financing
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| Amount: | CHF 6 million
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| Investors: | Biomedinvest AG, Grazia Equity, Life Science Partners, Mulligan Biocapital
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| Closing date: | Aug. 21
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