NovImmune SA Raises CHF 58 Million In Financing Led By BZ Bank
ZURICH -(Dow Jones)- Privately-held Swiss biotechnology company NovImmune SA said Monday it has raised CHF58 million through a private financing led by a new investor, Switzerland's BZ Bank. NovImmune, which has a product in Phase IIa trials, will use the funds raised in this Series B round to advance further products from its pipeline of fully human proprietary antibodies into clinical development. The first of these, NI- 0801, which targets pathogenic cell migration relevant to a number of autoimmune diseases, is presently in preclinical development and GMP manufacturing at Lonza AG's (LONN.VX) biologics unit while another product will begin preclinical development and GMP manufacturing in the course of 2007.