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news.Kymab, a monoclonal antibody biopharmaceutical company, has announced it has successfully raised $40m in a Series B financing.
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The Bill & Melinda Gates Foundation joins existing investor, the Wellcome Trust, each investing $20m.
The funds will enable Kymab to maximise the potential of its Kymouse platform and advance its proprietary pipeline of first-in-class therapeutic human monoclonal antibodies in areas of significant unmet medical need.
Kymab will also collaborate with the Gates Foundation and its partners on vaccine antigen discovery research and development with an initial focus on malaria and HIV.
Kymab CEO Dr Christian Grondahl said that the company is delighted to attract investment from two of the world’s largest foundations.
"This is a strong financial and scientific endorsement of Kymab as we advance our proprietary pipeline of first-in-class therapeutics in areas of significant unmet medical need, including cancer and inflammation," Grondahl added.
Kymab is using the Kymouse transgenic human antibody platform to discover and develop fully human monoclonal antibody drugs. Recent data published in Nature Biotechnology demonstrate that the Kymouse technology yields an antibody library constituted from 100 trillion different antibodies. From this deep library rare high-quality antibodies can be selected and developed into therapeutics.
To complement the growth of its internal pipeline of programs, Kymab will seek to enter into a limited number of strategic collaborations to identify and develop therapeutic antibodies in a range of diseases.
In addition, Kymab has established Kymab Access, a program that enables academic researchers to pursue the discovery and development of novel human monoclonal antibody therapeutics and vaccines by partnering with Kymab and its world leading Kymouse antibody technology.