NovImmune, a Switzerland-based biotechnology company, has raised $54.8m to take back control of its lead compounds, NI-0401 and NI-0501, a fully human monoclonal antibody to CD3 and interferon-gamma, respectively, and for further development of its pipeline. The transaction was led by BZ Bank Aktiengesellschaft.
NovImmune has extended its executive management team by appointing Penelope Ward as chief medical officer, Luca Bolliger as head of business development, and Olivia Maurel as head of regulatory affairs.
Ms Ward joined from F Hoffmann-La Roche where she was global head of rheumatology and local head of clinical development in the global development center, Welwyn Garden City, UK. Before NovImmune, Mr Bolliger was director of business development at Actelion. Ms Maurel joined from Centocor (J&J), where she was head of the European regulatory affairs group for immunology compounds.
Jack Barbut, CEO of NovImmune, said: The company has made great progress and remains strictly focused on achieving its goals to progress NovImmune’s rich pipeline. We are proud to complete this transaction which allows us to continue to execute our long-term business plan.
With the current financing, NovImmune now has regained full control of two of its lead compounds from MerckSerono and is looking forward to moving ahead with the seven products in its portfolio.