Numab Therapeutics Completes Oversubscribed CHF 50M Series C Extension to CHF 180M

Numab Therapeutics AG, a clinical-stage biotechnology firm focused on developing multi-specific antibodies for immunology and oncology, has successfully closed a CHF 50 million Series C extension round. This latest round increases the total Series C funding to CHF 180 million. The financing was co-led by Cormorant Asset Management and Forbion through its Growth Opportunities Fund, along with HBM Healthcare Investment and Novo Holdings. Other existing investors, including BVF Partners L.P., Octagon Capital Advisors LP, RTW Investments, and BlackRock-managed funds and accounts, also participated.

Bihua Chen, the Founder and CEO of Cormorant Asset Management, expressed confidence in Numab's innovative platform. Chen praised the company's expertise in engineering multi-specific antibodies, highlighting their stability, yield, and favorable CMC characteristics. Chen also noted the clinical trial efficiencies offered by multi-specific antibodies, reaffirming support for Numab's strategic identification and pursuit of optimal biological combinations for their platform.

In reflecting on the past year, David Urech, Ph.D., Founder and CEO of Numab Therapeutics, highlighted significant achievements, notably the acquisition of Numab’s spin-out Yellow Jersey Therapeutics by Johnson & Johnson for $1.25 billion. Urech expressed enthusiasm about starting the new year with reinforced financial backing from investors who align with Numab’s vision. He emphasized the importance of Numab’s proprietary λ-CapTM and MATCHTM technology platforms, which enhance the company’s ability to de-risk the development of its proprietary pipeline through strategic regional partnerships.

The funds raised will be directed towards advancing Numab’s robust pipeline of clinical and pre-clinical multi-specific antibodies targeting inflammation and oncology. Numab's proprietary platforms, λ-CapTM and MATCHTM, facilitate a reproducible therapeutic design process that addresses traditional barriers in drug discovery, positioning the company to deliver a new generation of first-in-class and best-in-class medicines aimed at maximizing patient benefits.

Numab’s pipeline is diverse, covering multiple therapeutic areas and offering significant potential for groundbreaking treatments. The lead asset, NM32, is a first-in-class, half-life-enhanced T-cell engager that targets ROR1, a tumor-associated antigen with broad expression in solid tumors and hematological malignancies. NM32 is currently undergoing Phase 1 trials in patients with solid tumors.

Numab’s collaborative efforts with leading pharmaceutical companies have continued to validate its proprietary platform and development capabilities. These partnerships reflect the strong industry confidence in Numab’s innovative approaches to multi-specific antibody therapies.

Numab Therapeutics AG remains at the forefront of developing antibody-based immunotherapies, leveraging its cutting-edge technology platforms. As the company advances its pipeline, it aims to bring transformative treatments to patients across various therapeutic areas, reinforcing its position as a leader in the biotechnology sector.