NovImmune announced today, following its July 2010 deal with Genentech/Roche, that it obtained further financing of CHF 20 million. The series B financing round of CHF 20M was led by BZ Bank Aktiengesellschaft.
Jack Barbut, CEO, commented that 'with the external validation through the Genentech/Roche deal this summer, the current financing round allows NovImmune to generate Proof-of-Concept data with at least two compounds, increase the number of partnerships, and complete the validation of its proprietary bispecific antibody generation platform (kappa-lambdabodies™). This financing round allows NovImmune to enter 2011 in a strong financial position, to enter further partnerships, and to deliver on the long term product development strategy validated by the premier biologics company in the world and by the commitment of its lead investors'.