Ganymed gains $82M in new round

ATS Beteiligungsverwaltung has led an $82 million (€65 million) round for Germany's Ganymed Pharmaceuticals. Future Capital joined the round with private investors as Ganymed prepares to enter the clinic with its lead program.

The money will be used to advance Ganymed's antibody therapies for cancer. Clinical trials for the monoclonal antibody Claudiximab--iMAB362--against metastatic gastro-esophageal carcinoma will get underway with a Phase Ib study in Germany before the end of this year. A further five antibody projects are in preclinical development for breast, colorectal, lung, pancreatic and prostate cancers.

"We are really delighted by the trust and the very substantial involvement of our investors in Ganymed," said CEO and CSO Dr. Özlem Türeci. "The funds will not only support the clinical tests of our first antibody drug, but they will also allow us to considerably speed up and broaden our pipeline of highly cancer cell specific therapeutic antibodies."

- check out the press release

ALSO: Chiral Quest Corporation raised $13 million in a Series B round led by a group of China-based investors. Story

PLUS: Israel's Sol Gel Technologies today announced the successful completion of an investment round of $9 million. Release

AND: Zacharon Pharmaceuticals has completed a $3.5 million Series A financing and received more than $2.2 million in National Institutes of Health research grants. Release

PLUS: StemCells has also received $20 million in equity financing. Release

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