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AIMM Therapeutics Closes Financing Round With Life Sciences Fund Amsterdam


6/5/2009 11:08:41 AM

Amsterdam, June 5, 2009 – AIMM Therapeutics B.V. (AIMM) and the Life Sciences Fund Amsterdam B.V. announced today the closure of AIMM’s financing round.

AIMM is a biotech company spun-out of the Netherlands Cancer Institute and the Academic Medical Center at the University of Amsterdam. The company aims to develop high quality human monoclonal antibodies to treat diseases with a high, unmet medical need. AIMM exploits and develops new, innovative technologies to generate stable monoclonal cell lines of human antibody-producing B cells against infectious agents.

AIMM’s first product is an antibody against Respiratory Syncytial Virus (RSV), a virulent easily transmissible virus and the most common cause of lower respiratory tract disease in children younger than two years old. The immune system of these young infants is often compromised and therefore administration of anti-RSV antibodies is necessary to confer protection against this virus. In addition, AIMM has developed human antibodies against one other viral disease and one bacterial disease.

Dr. Willem van Oort, CEO at AIMM: “We very pleased with the closure of this financing round. The funding from the Life Sciences Fund Amsterdam will enable us to further develop our proprietary technology platform and to develop new antibodies against any viral and bacterial targets.

“I am very excited to be making this investment in AIMM” says Tom Schwarz, partner at the Life Sciences Fund Amsterdam. “The results of the RSV antibody-tests proof the uniqueness of the anti-body platform developed by AIMM’s Chief Scientific Officer, Professor Hergen Spits. I am looking forward to working closely with the management team as a new member of the company’s Supervisory Board.”

About AIMM Therapeutics (www.aimmtherapeutics.com)

AIMM therapeutics B.V. is a biotech company established in 2004 with the goal to develop therapeutic human monoclonal antibodies. AIMM is located at the premises of the Academic Medical Center (AMC) of the University of Amsterdam. It capitalizes on a technology to immortalize human B cells enabling isolation of cloned cell lines that produce antibodies of high clinical value. This technology has been developed in the laboratory of Professor Spits while he was working at the Netherlands Cancer Institute (NKI) and subsequently at the AMC.

About the Life Sciences Fund Amsterdam (www.biomedcluster.nl/lsfa)

The Life Sciences Fund Amsterdam B.V. is an independent venture capital fund focusing on early stage companies and (university) spin-outs in the biotechnology and biomedical field with a presence in the Amsterdam region. The fund targets companies that are developing commercially promising products and technologies in life sciences, including pharmaceuticals, biotechnology, information technology and other high technology opportunities that offer venture capital returns.


Read at BioSpace.com


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