By Lisa Kerner
Charlotte, N.C., Aug. 2 - ESBATech AG said it closed a $41 million round of series B financing.
"This financing round enables us to further develop and advance our lead product, ESBA105, in several inflammatory indications to completion of clinical phase 2a and to progress additional antibody fragment candidates into clinical development over the next three years," chief executive officer Dominik Escher said in a company news release.
A global syndicate of new investors led the round, including SV Life Sciences (SVLS), Clarus Ventures, HBM BioVentures and HBM BioCapital. Series A investors participating included Novartis Venture Fund, BioMedinvest and VI Partners.
Graham Boulnois, partner at SVLS, Michael Steinmetz, managing director at Clarus Ventures and Ulrich Geilinger, board member and investment adviser of HBM Partners, will join ESBATech's board of directors.
ESBATech is a privately held drug discovery and development company based in Zurich, Switzerland.
| Issuer: | ESBATech AG
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| Issue: | Series B financing
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| Amount: | $41 million
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| Investors: | Lead investors SV Life Sciences (SVLS), Clarus Ventures, HBM BioVentures, HBM BioCapital and Novartis Venture Fund, BioMedinvest and VI Partners.
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| Announcement date: | Aug. 2
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