Biopharma company Kymab raises $50 million to fund antibody-generating technology
Thursday, May 07, 2015
Biopharma company Kymab said it had raised $50 million from two firms associated with veteran British investor Neil Woodford to support the privately held company's antibody-generating technology, Kymouse.
Woodford manages Woodford Patient Capital Trust Plc, a closed-end investment trust, and has a stake in biotech investment company Malin Corp Plc through his firm Woodford Investment Management [IPO-WOOD.L].
Kymab specializes in producing monoclonal antibodies, or antibodies created from clones of a single cell in the lab rather than by a person's own immune system.
The money raised would help it develop a pipeline of antibodies in "areas of significant unmet medical need", Kymab said in an email statement on Wednesday.
The funds raised were the final part of a $90 million series B fundraising. The Wellcome Trust and the Bill & Melinda Gates Foundation had contributed the initial $40 million in May last year.
In all, Kymab has raised $120 million in equity financing since it was founded in 2009, it said.
Dublin-based Malin also got two seats on Kymab's board, including one for its chief executive, Adrian Howd.
reuters.com
