AMAL Therapeutics (AMAL), the Swiss biotech developing novel, peptide-based therapeutic cancer vaccines, today announces that it has completed the first tranche of its Series B financing round, raising €8 million (CHF 8.8 million).
The Company will use the funds to progress its lead vaccine (ATP128) towards clinical studies and proof-of-concept in colorectal cancer. It will also further develop its proprietary therapeutic tumour vaccination technology platform called KISIMA.
Boehringer Ingelheim Venture Fund (BIVF), BioMedPartners and Helsinn Investment Fund are cornerstone investors, with VI Partners, High-Tech Gründerfonds and Schroder Adveq also participating.
AMAL is Schroder Adveq’s first investment in Life Sciences in Switzerland. It is also Helsinn’s first ever investment in Switzerland.
AMAL’s KISIMA technology demonstrated potent and multi-antigenic long lasting anti-tumour immunity and prevented tumour immune escape in pre-clinical models. This promising preclinical efficacy is achieved through the combination of a Cell Penetrating Peptide (CPP) with a multi- antigenic chimeric cargo and a toll-like receptor agonist in one recombinant protein.
Dr Hanna Kleczkowska from Helsinn Investment Fund and Dr Andreas Wallnöfer from BioMedPartners become members of AMAL’s Supervisory Board. Dr Erwin Boos from Schroder Adveq join the Board as Board Observer.