ESBATech AG, a Zurich-based biotechnology company
developing antibody-fragment therapeutics, today announced the closing
of its Series B financing round. The CHF 50M (USD 41M, EURO 32M)
financing round was led by a global syndicate of new investors
representing the US and Europe, including SV Life Sciences (SVLS),
Clarus Ventures, HBM BioVentures and HBM BioCapital. Series A
investors Novartis Venture Fund, BioMedinvest and VI Partners also
participated in this round.
Dominik Escher Ph.D., Chief Executive Officer of ESBATech AG,
commented: "Attracting this global blue chip investors group is
another important validation of ESBATech's antibody-fragment
technology, product pipeline, management team and business strategy.
This financing round enables us to further develop and advance our
lead product, ESBA105, in several inflammatory indications to
completion of clinical Phase IIa and to progress additional antibody
fragment candidates into clinical development over the next three
years."
Graham Boulnois Ph.D., Partner with SV Life Sciences commented:
"ESBATech has built an attractive human antibody fragment platform
with a strong intellectual property position. This platform fits well
into the broader therapeutic antibody space and will provide a
pipeline of commercially attractive, new drugs based on stable
antibody fragments derived from fully human scaffolds. It also
provides a significant opportunity for partnering. We are delighted to
be working with the Company and the other investors to build a leading
company in this exciting area."
Michael Steinmetz Ph.D., Managing Director of Clarus Ventures,
added: "Antibody fragments are an emerging therapeutic tool with
substantial and continuously increasing commercial potential. We are
particularly attracted by ESBATech's unique approach which generates
highly stable antibody fragments derived from fully human scaffolds.
ESBATech is well-positioned as a leader in this exciting emerging
market."
Graham Boulnois Ph.D., Partner at SVLS, Michael Steinmetz Ph.D.,
Managing Director at Clarus Ventures and Ulrich Geilinger Ph.D., Board
member and Investment Advisor of HBM Partners will join ESBATech's
Board of Directors.
Dr. Escher concluded, "We welcome Drs. Boulnois, Steinmetz and
Geilinger to our Board. Collectively they bring additional life
science industry and drug development expertise as well as global
networks with thought leaders that will prove to be important as we
transition our antibody fragment therapeutic candidates from
preclinical development into the clinic."
About SV Life Sciences
SV Life Sciences (www.svlifesciences.com) is a venture capital
adviser and manager that makes selected investments in entrepreneurs
and management teams .
SV Life Sciences provides finance to businesses at all stages of
development and across the human life sciences sector. These sectors
range from biotechnology & pharmaceuticals to medical devices &
instruments, to healthcare information technology and services. SV
Life Sciences currently advises or manages five funds - four limited
partnership funds - SV Life Sciences Funds I, II, III and IV - and
International Biotechnology Trust plc (www.internationalbiotrust.com)-
an investment trust listed on the London Stock exchange (Ticker -
IBT.L). Together these funds have capital of approximately $1,100
million which is primarily invested in North America and Europe, but
will consider innovative investments in other regions. Our team of 27
professionals has a diverse, complimentary set of skills and
experience that allow us to tailor a team to work with almost any life
sciences business.
About Clarus Ventures
Founded by a team of accomplished investment professionals with
extensive and complementary industry backgrounds, Clarus Ventures is a
life sciences venture capital firm with a team that has a long history
of success in creating value. Deep relationships with world thought
leaders and decision makers allow this team to identify unique
investment opportunities and shepherd them to maturity. Clarus
augments its core expertise of investing in biopharmaceuticals and
medical technology with the deep and diverse expertise of the team in
research and development, commercialization, business development and
operations management at the global level. For additional information
on Clarus Ventures please visit www.clarusventures.com.
About HBM
HBM Partners AG, founded in 2001, is a leading investment advisory
group in the sectors of biotechnology, emerging pharmaceutical and
medical technology. HBM Partners AG's team of professionals has
extensive experience in drug development, the biomedical sciences and
the financial markets. Currently, HBM Partners AG manages/advises
several investment entities including HBM BioVentures and HBM
BioCapital with total assets of over US$1 billion. To date, HBM
vehicles have financed over 50 private companies in Europe and the US
of which more than 20 companies have gone public or were sold to
strategic buyers. For further information please visit
www.hbmpartners.com.
About ESBATech AG
Privately-held ESBATech AG is a Zurich, Switzerland based drug
discovery and development company focused on advancing antibody
fragments for therapeutic applications. For more information about
ESBATech, please visit www.esbatech.com
Gemma Bradley, +44 7899 891 256 or
esbatech@northbankcommunications.com
