Adimab announces the completion of Series D financing

Adimab, Inc., a world leader in human antibody discovery, today announced the closing of a Series D financing led by Google Ventures with participation by previous investors Polaris Ventures, SV Life Sciences, OrbiMed Advisors and Borealis Ventures. Bill Maris of Google Ventures will join Adimab's Board of Directors. The total amount of the financing was not disclosed.

"Cutting-edge life science technologies are extremely computationally intensive, and Google Ventures will contribute valuable input as Adimab works to become the world's leading antibody discovery company,” said Bill Maris, Managing Partner at Google Ventures. “Adimab's technology is truly groundbreaking, and we are thrilled to join their existing investors to support the company’s growth.”

“Adimab reviewed multiple investment proposals but it was clear that Google Ventures immediately understood our value proposition - that a prolific discovery platform can drive even greater productivity when integrated with advanced computational tools,” says Errik Anderson, Chief Operating Officer at Adimab. “The continued support of our previous investor base is also testament to the strength of this proposition.”

“OrbiMed has been impressed by Adimab’s ability to consistently execute ahead of schedule as exemplified by their successful development of a best-in-class antibody discovery platform less than three years from inception,” said Carl Gordon, Ph.D., CFA, General Partner and Co-Head of Private Equity at OrbiMed Advisors. “The company’s recent partnerships with Merck and Roche are just another validation of this platform.”

“I believe that the recipe for success is based on a simple formula: outstanding management teams with outstanding technologies going after important opportunities. Adimab has all three key components and, as a direct result, has been able to raise capital at another valuation uptick,” said Terry McGuire, Managing General Partner at Polaris Ventures. "Adimab is one of the stars in our portfolio and we are thrilled to be an investor."

"As life science investors we rarely see companies whose base technology even meets our original expectations. In short time, Adimab has already far exceeded our initial technical goals and is rapidly changing the technological landscape of antibody discovery,” said Mike Ross, Ph.D., Managing General Partner at SV Life Sciences.