Novimmune closes Series B financing for CHF 60 million

Novimmune SA announced that it has closed a Series B financing for CHF 60 million ($66 million). London-based Rosetta Capital Limited led the round with participation of new private investors as well as existing investors.

Dr. Jonathan Hepple, Partner at Rosetta, has joined Novimmune's Board of Directors. Dr. Hepple brings more than 15 years' investment experience in the life science industry. He is a co-founder of Rosetta Capital, a London-based advisory and venture capital firm focused on the life sciences sector.

"We welcome Rosetta as a new investor in Novimmune and look forward to working with Jonathan as a new member of our Board," commented Jack Barbut, CEO of Novimmune. "His experience across orphan disease and protein engineering companies, and in the investment sector, nicely complements Novimmune's other Board members' perspectives."

"This is an exciting time to become involved with Novimmune," commented Dr. Hepple. "The Company is advancing valuable new medicines by pursuing a three-pillar strategy - NI-0501 is a clinical-stage drug candidate for a life threatening disease, which Novimmune intends to develop and commercialize with its own resources, setting the basis for a high-value orphan business. NI-0101, a first in class clinical-stage anti-TLR4 antibody, addresses broad market opportunities that may enable the Company to establish a major strategic partnership. Finally, Novimmune's unique kappa/lambda body™ bispecific drug platform, particularly its application to selectively inhibit CD47 on cancer cells, holds promise to benefit a broad range of cancer patients."