This round brings the total amount raised since the company’s inception to date to E27 million. The financing strengthens the company’s balance sheet and allows the progression of company’s two lead compounds, UNBS1450 and UNBS5162, into clinical trials in cancer patients by mid 2008. These two compounds present novel mode of action and will be developed respectively in Europe and in the US.
The company has also reorganized its management structure to prepare its entry into clinical development Phases. Christiane Verhaegen will temporarily combine the mission of CEO with her former role as the company’s CFO. Robert Kiss, former CEO and chief scientific officer, will remain chief scientific officer focusing on leading the company’s research activities.
The company has also strengthened its commercial and corporate capabilities with the appointment of Dimitri Dimitriou as commercial advisor, focusing on licensing and business development. Mr. Dimitriou is the CEO of ImmuPharma and the founder of DyoDelta Biosciences. He was previously senior director of worldwide business development at GlaxoSmithKline and Bristol-Myers Squibb.