{"id":66784,"date":"2020-11-19T16:44:21","date_gmt":"2020-11-19T15:44:21","guid":{"rendered":"https:\/\/cms.munich-startup.net\/?p=66784"},"modified":"2022-11-28T12:00:12","modified_gmt":"2022-11-28T11:00:12","slug":"catalym-receives-50-million-euros-for-cancer-therapy","status":"publish","type":"post","link":"https:\/\/cms.munich-startup.net\/en\/66784\/catalym-receives-50-million-euros-for-cancer-therapy\/","title":{"rendered":"Catalym receives 50 million euros for cancer therapy"},"content":{"rendered":"
\n

Catalym was founded in 2016 and develops a special form of cancer therapy. molecule CTL-002 developed by the startup<\/a> a special protein (GDF-15) that tumors use to protect themselves from the body's immune system. This makes the tumors accessible to the immune system again, which is intended to strengthen the immune system. This would also enable new therapies and improve the quality of life of cancer patients.<\/p>\n\n\n\n

The now completed Series B round was led by Vesalius Biocapital III. The Novartis Venture Fund (NVF), Wachstumsfonds Bayern, and partner and founding investors Forbion and Biogeneration Ventures also participated. Representatives of Vesalius Biocapital III, NVF, and Wachstumsfonds Bayern will join the Board of Directors.<\/p>\n\n\n\n

Manfred R\u00fcdiger<\/strong>, CEO of Catalym, explains:<\/p>\n\n\n\n

"This funding, with the strong commitment of both our existing and new investors, will enable us to advance CTL-002 to clinical proof of concept and establish that GDF-15 neutralization is one of the key mechanisms for immune restoration in a variety of tumor types. CTL-002 is expected to enter clinical development in December 2020."<\/p><\/blockquote>\n\n\n\n

Catalym plans clinical trials for December<\/h2>\n\n\n\n

Marc Lohrmann<\/strong>, Managing Partner of Vesalius BioCapital III, stated:<\/p>\n\n\n\n

"We are very pleased to join Catalym in the Series B round and help bring this new paradigm of oncology treatment closer to patients in a first-in-human study beginning before the end of 2020."<\/p><\/blockquote>\n\n\n\n

Holger Reithinger<\/strong>, Chairman of the Supervisory Board of Catalym and General Partner at Forbion, says:<\/p>\n\n\n\n

"This financing is a recognition of the progress the Catalym team has made over the past four years. As founding investors, we welcome our new partners Vesalius Biocapital III, Novartis Venture Fund, Wachstumsfonds Bayern, and Coparion, who are joining us in supporting the clinical development of CTL-002."<\/p><\/blockquote>\n<\/div>","protected":false},"excerpt":{"rendered":"

The Planegg-based biotech startup Catalym has successfully completed its Series B round, raising \u20ac50 million. 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