British Kymab raised an additional €44.4M to its already very successful Series B financing. The cash was courtesy of Woodford Patient Capital Trust and Malin Corporation, which joined the Wellcome Trust and the Bill&Melinda Gates Foundation, the previous investors.
The British biotech, a monoclonal antibody biopharmaceutical company, successfully raised an additional €44.4M to complete a €79.8M Series B financing. The investments from Woodford Patient Capital Trust and Malin Corporation followed the first €35.5M Series B investment from the Wellcome Trust and the Bill&Melinda Gates Foundation.
The funds will enable Kymab to maximize 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 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 extended library, rare high-quality antibodies can be selected and developed into therapeutics. The company’s three most advanced products, Anti-OX40L, Anti-LIGHT and Anti-PD-L1, are linked to immunology and immune-oncology.
In association with the financing, Kymab has added two pre-eminent life science executives to the Board. Kelly Martin, former CEO of Elan Corporation, and Director of Malin; and Dr. Adrian Howd, CEO of Malin.