ZURICH, Switzerland, Aug. 2 /PRNewswire/ -- ESBATech AG, a Zurich-based biotechnology company developing antibody-fragment therapeutics, today announced the closing of its Series B financing round. The US$ 41M (CHF 50M EUR 32M) financing round was led by a global syndicate of new investors representing the US and Europe, including SV Life Sciences (SVLS), Clarus Ventures, HBM BioVentures and HBM BioCapital. Series A investors Novartis Venture Fund, BioMedinvest and VI Partners also participated in this round.
Dominik Escher Ph.D., Chief Executive Officer of ESBATech AG, commented: “Attracting this global blue chip investors group is another important validation of ESBATech’s antibody-fragment technology, product pipeline, management team and business strategy. This financing round enables us to further develop and advance our lead product, ESBA105, in several inflammatory indications to completion of clinical phase IIa and to progress additional antibody fragment candidates into clinical development over the next three years.”
Graham Boulnois Ph.D., Partner with SV Life Sciences commented: “ESBATech has built an attractive human antibody fragment platform with a strong intellectual property position. This platform fits well into the broader therapeutic antibody space and will provide a pipeline of commercially attractive, new drugs based on stable antibody fragments derived from fully human scaffolds. It also provides a significant opportunity for partnering. We are delighted to be working with the Company and the other investors to build a leading company in this exciting area.”
Michael Steinmetz Ph.D., Managing Director of Clarus Ventures, added: “Antibody fragments are an emerging therapeutic tool with substantial and continuously increasing commercial potential. We are particularly attracted by ESBATech’s unique approach which generates highly stable antibody fragments derived from fully human scaffolds. ESBATech is well-positioned as a leader in this exciting emerging market.”
Graham Boulnois Ph.D., Partner at SVLS, Michael Steinmetz Ph.D., Managing Director at Clarus Ventures, and Ulrich Geilinger Ph.D., Board member and Investment Advisor of HBM Partners, will join ESBATech’s Board of Directors.
Dr. Escher concluded, “We welcome Drs. Boulnois, Steinmetz and Geilinger to our Board. Collectively they bring additional life science industry and drug development expertise as well as global networks with thought leaders that will prove to be important as we transition our antibody fragment therapeutic candidates from preclinical development into the clinic.”
About SV Life Sciences
SV Life Sciences (http://www.svlifesciences.com) is a venture capital adviser and manager that makes selected investments in entrepreneurs and management teams. SV Life Sciences provides finance to businesses at all stages of development and across the human life sciences sector. These sectors range from biotechnology & pharmaceuticals to medical devices & instruments, to healthcare information technology and services. SV Life Sciences currently advises or manages five funds -- four limited partnership funds -- SV Life Sciences Funds I, II, III and IV -- and International Biotechnology Trust plc (http://www.internationalbiotrust.com), an investment trust listed on the London Stock exchange (Ticker - IBT.L). Together these funds have a capital of approximately $1,100 million which is primarily invested in North America and Europe, but will consider innovative investments in other regions. Our team of 27 professionals has a diverse, complimentary set of skills and experience that allow us to tailor a team to work with almost any life sciences business.
About Clarus Ventures
Founded by a team of accomplished investment professionals with extensive and complementary industry backgrounds, Clarus Ventures is a life sciences venture capital firm with a team that has a long history of success in creating value. Deep relationships with world thought leaders and decision makers allow this team to identify unique investment opportunities and shepherd them to maturity. Clarus augments its core expertise of investing in biopharmaceuticals and medical technology with the deep and diverse expertise of the team in research and development, commercialization, business development and operations management at the global level. For additional information on Clarus Ventures please visit http://www.clarusventures.com.
About HBM
HBM Partners AG, founded in 2001, is a leading investment advisory group in the sectors of biotechnology, emerging pharmaceutical and medical technology. HBM Partners AG’s team of professionals has extensive experience in drug development, the biomedical sciences and the financial markets. Currently, HBM Partners AG manages/advises several investment entities including HBM BioVentures and HBM BioCapital with total assets of over US $1 billion. To date, HBM vehicles have financed over 50 private companies in Europe and the US of which more than 20 companies have gone public or were sold to strategic buyers. For further information please visit http://www.hbmpartners.com.
About ESBATech AG
Privately-held ESBATech AG is a Zurich, Switzerland based drug discovery and development company focused on advancing antibody fragments for therapeutic applications. For more information about ESBATech, please visit http://www.esbatech.com.
Source: ESBATech AG
