Ganymed Pharmaceuticals Closes EUR 45 Million Financing Round

Company to accelerate clinical development of antibodies IMAB362 and IMAB027 for the treatment of cancer

(PresseBox) ( Mainz, Germany, )
Ganymed Pharmaceuticals AG, a biopharmaceutical company developing highly selective Ideal Monoclonal Antibodies (IMABs) for the treatment of cancer, announced today the completion of a EUR 45 million Series E financing from existing investors ATS Beteiligungsverwaltung GmbH, MIG Fond, and FCPB Gany GmbH.

Ganymed will use the proceeds to accelerate the clinical development of its lead program IMAB362, including completion of the ongoing Phase IIa and IIb clinical trials in gastroesophageal cancer, and to prepare this first-in-class antibody for a Phase III study. Concomitantly, the Company will clinically validate its IVD test, CLAUDETECT™18.2, as a predictive companion diagnostic test to IMAB362.

The financing will also allow Ganymed to conduct a Phase I/II clinical study of IMAB027 in ovarian cancer and develop a companion diagnostic test for this antibody.

"We are very pleased that in the space of just three years, the Ganymed team has made immense progress in the clinical development of its lead program. In all clinical studies done so far, IMAB362 has shown exciting anticancer activity and safety data, suggesting that this antibody may well represent a breakthrough in the treatment of solid cancers," said Thomas Strüngmann of ATS Beteiligungsverwaltung.

Prof. Rolf Krebs, Chairman of the Supervisory Board of Ganymed, commented: "The successful completion of this financing round is a strong testimony to the continuing solid commitment of Ganymed's investors to the Company. We are truly excited that this financing allows us to accelerate the development of IMAB362, for which we have achieved promising preliminary results in the Phase IIa study earlier this year."
The publisher indicated in each case is solely responsible for the press releases above, the event or job offer displayed, and the image and sound material used (see company info when clicking on image/message title or company info right column). As a rule, the publisher is also the author of the press releases and the attached image, sound and information material.
The use of information published here for personal information and editorial processing is generally free of charge. Please clarify any copyright issues with the stated publisher before further use. In the event of publication, please send a specimen copy to service@pressebox.de.