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news.ESBATech, a developer of antibody fragment therapeutics, has raised an additional CHF23 million in an extended series B venture round to expand its development pipeline.
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A global syndicate of current investors participated in this round including SV Life Sciences, Clarus Ventures, HBM BioVentures, HBM BioCapital, Novartis Bioventures, BioMedinvest and VI Partners.
This funding builds on the company’s CHF50 million series B round, which closed in August 2006 and has enabled the company to move its lead molecule, ESBA105, into clinical trials.
ESBA105 is a single-chain antibody fragment directed against TNF-alpha and is developed in ophthalmic and additional inflammatory indications.
Dominik Escher, CEO of ESBATech, said: “We are delighted to announce the expansion of our proprietary pipeline with this additional financing. This includes building broad franchises in ophthalmology, rheumatology and respiratory diseases for ESBA105 and additional antibody fragments.”