After a Series B round of 50 million euros two years ago Catalym has raised another €50 million. In addition to Bavaria Capital Forbion, Novartis Venture Fund, Vesalius Biocapital III, BioGeneration Ventures, and Coparion are also among the existing investors. Brandon Capital and Jeito Capital are joining as new lead investors.
With the new financial resources, the IZB-Company will initiate the second phase of the development program for its drug candidate Visugromab. Visugromab is designed to neutralize a specific protein that tumors use to protect themselves from the body's immune system. This should make tumors accessible to the immune system again, thus strengthening the immune response.
Approval-relevant studies
Phil L'Huillier, CEO at Catalym, says:
"The successfully completed Series C financing round is further confirmation that visugromab is emerging as a new immunotherapeutic cancer drug with the potential to transform the immuno-oncology landscape. We greatly appreciate the commitment of our new and existing investors and will work with them to advance further clinical development toward pivotal trials."
As part of the successful financing round, Jonathan Tobin, Partner at Brandon Capital, and Andreas Wallnoefer, Partner at Jeito Capital, will also be appointed as new members to Catalym's Advisory Board.
Jonathan Tobin from Brandon Capital says about the current financing round:
"We are excited by the extremely promising clinical data Catalym has generated in a short period of time. They demonstrate the company's ability to advance a program focused on a novel target molecule and develop a targeted antibody to generate adaptive immune responses in end-stage cancer patients. We look forward to supporting the Catalym team in advancing visugromab into late-stage clinical development and further investigating the role of GDF-15 in immunosuppression."
“Great potential to improve patients’ lives”
Andreas Wallnoefer from Jeito Capital added:
"Visugromab has shown promising results in initial studies, leading to several impressive responses in patients with advanced tumors. With its significant efficacy profile and good tolerability, the drug has great potential to improve patients' lives and become an important part of cancer immunotherapy regimens."
George Ried, Managing Director of Bayern Kapital, says:
"With the monoclonal antibody visugromab, Catalym is developing a novel cancer immunotherapy for patients with advanced tumors who do not respond or no longer respond to current therapeutic approaches such as checkpoint inhibitors. Since our initial investment in September 2020, the company has taken another major step in clinical development with promising results. We are very pleased to continue this promising path together with the Catalym team."
Bayern Kapital invested millions of euros from funds of the Growth Fund Bavaria 2 (WFB 2)Initiated by the Bavarian Ministry of Economic Affairs and managed by Bayern Kapital, WFB 2 is open to investments of between 2 and 10 million euros.
