Numab Therapeutics raises $55M for antibody-based immunotherapies

Biotech Numab Therapeutics has raised $55 million, bringing its Series C fundraise to $197 million.

Numab is a clinical-stage company developing multi-specific antibody-based immunotherapies for inflammation and cancer. 

Its developed a reproducible plug-and-play therapeutic design process that uses proprietary tech via its λ-CapTM and MATCHTM platforms to overcome historical drug discovery barriers and build a pipeline of new and important medicines to maximise patient benefits. 

Its lead asset NM32, a half-life-enhanced T-cell engager targeting ROR1, a tumour-associated antigen with broad expression in solid tumors and haematological malignancies, is currently in Phase 1 trial in patients with solid tumours. 

 The financing was co-led by Cormorant Asset Management, Forbion via its Forbion Growth Opportunities Fund, HBM Healthcare Investment, and Novo Holdings, with participation from other existing investors BVF Partners LP, Octagon Capital Advisors LP, RTW Investments, and funds and accounts managed by BlackRock.

According to Bihua Chen, founder and CEO of Cormorant Asset Management, Numab's modular platform and deep engineering expertise in designing multi-specific antibodies with predictable stability, high yields, and robust manufacturability offer significant advantages.

Furthermore, multi-specific antibodies can potentially streamline clinical trial design by simultaneously targeting multiple pathways. 

“We are enthusiastic about supporting the team as they identify and pursue the most promising biological combinations for their innovative platform."

“Throughout 2024, we made tremendous progress with our pipeline and business development efforts, including the acquisition of Numab’s spin-out Yellow Jersey Therapeutics by Johnson & Johnson for $1.25 billion”, said David Urech, Ph.D., Founder and Chief Executive Officer of Numab Therapeutics. 

“We are delighted to start the year by strengthening our financial position with the support of this strong group of investors who share our vision and conviction in the strength of Numab’s unique λ-CapTM and MATCHTM technology platforms and our regional partnering strategy that allows us to de-risk development of our proprietary pipeline.”

Proceeds from the financing will help accelerate and further advance Numab’s pipeline of clinical and pre-clinical best-in-class and first-in-class multi-specific antibodies in inflammation and oncology.

Lead image: Freepik.