Novo Holdings co-leads oversubscribed CHF 100 Million (USD 110 M) Series C in Numab Therapeutics

COPENHAGEN, Denmark, May 20, 2021 /PRNewswire/ -- Novo Holdings today announced that it has co-led the oversubscribed CHF 100 million (approximately USD 110 million) Series C financing in Numab Therapeutics AG (Numab) alongside HBM Partners, with participation from new investors Forbion via its Forbion Growth Opportunities Fund, Cormorant Asset Management, BVF Partners L.P., RTW Investments L.P., fund and accounts under the management of BlackRock, Octagon Capital Advisors, and existing investors.

Numab is a clinical stage biopharmaceutical company developing next-generation multispecific antibody-based immunotherapies for cancer and inflammation. Nanna Lüneborg, Partner at Novo Ventures, will join Numab's Board of Directors.

Based near Zurich in Switzerland, Numab is creating multi-specific antibodies that enable the pursuit of novel therapeutic strategies in the field of cancer immunotherapy and inflammation. Utilising its proprietary MATCH^TM technology platform, Numab is developing a pipeline of bispecifics to simultaneously target clinically validated pathways. The financing will support the acceleration and expansion of the clinical development of Numab's lead program, NM21-1480, into multiple cancer indications, and the advancement of the company's pipeline of multi-specific antibodies in oncology and inflammation, into clinical trials. NM21-1480 combines binding to 4-1BB, PD-L1 and human serum albumin, thereby balancing potent anti-tumor immune activation with a desirable safety profile.

Commenting on the investment, Nanna Lüneborg, Partner, Novo Ventures and Board Director of Numab Therapeutics, said: "We are delighted to be co-leading Numab's Series C financing together with our colleagues at HBM Partners. It is fantastic to see a major European led round attracting a broad and experienced syndicate of international investors, and a testament to the outstanding innovation in antibody platforms in Europe.  We believe bispecifics as a class offer huge potential, and Numab is an exciting company with compelling technology and a highly experienced management team. The company is at a pivotal stage of its growth and this funding will enable Numab to generate significant clinical data points.  It represents another example of Novo Holdings' investment strategy to support companies built on differentiated science in areas of major unmet medical need."  

David Urech, Ph.D., Founder and CEO of Numab Therapeutics, added: "We are thrilled to be supported by Novo Holdings and a strong group of international investors who share our vision for the company's future. Combining PD-L1 blockade with tumor localized 4-1BB co-stimulation in a single molecule emerges as an attractive next-generation therapeutic strategy in solid tumors, and Numab's lead compound NM21-1480 has best-in-class potential. The financing will help us to maximize the value of this asset by significantly expanding the clinical development program and accelerating toward phase 2 proof-of-concept."

About Novo Holdings A/S and Novo Ventures

Novo Holdings is recognized as a world-leading life science investor with a focus on creating long-term value. As a life sciences investor, Novo Holdings provides seed and venture capital to development-stage companies and takes significant ownership positions in growth and well-established companies. Novo Holdings also manages a broad portfolio of diversified financial assets. For more information: https://www.novoholdings.dk/

Novo Ventures is a global team of investment professionals that supports Novo Holdings' investments in private and public opportunities in the life sciences industry.  For more information: https://www.novoholdings.dk/investments/ventures/; https://www.novoholdings.dk/wp-content/uploads/Novo-Ventures-2020-in-review.pdf.

About Numab Therapeutics

Numab Therapeutics is an oncology-focused biopharmaceutical company based in Zurich-area, Switzerland. Numab is writing the next chapter in cancer immunotherapy by creating multi-specific antibodies that enable the pursuit of novel therapeutic strategies. With its proprietary MATCH^TM technology platform, it is fuelling a new wave of multi-specific drug candidates engineered with versatility and developability in mind. The lead product was designed to balance potent anti-tumor immunity with a desirable safety profile by targeting 4-1BB, PD-L1 and Human Serum Albumin simultaneously. Numab believes that meeting the highest quality standards in every step of the drug design process matters and will result in better patient outcomes. For further information, visit www.numab.com.

SOURCE Novo Holdings